CBRS Tops Expectations
Cerebras Systems reports strong Q1 results and guidance, announces AWS deal
Shares of Cerebras Systems Inc (NASDAQ: CBRS ) tanked in early trading on Wednesday, even after reporting strong first-quarter results for the first time as a publicly traded company. The chipmaker should be able to maintain its technological leadership in the fast inference market and "existing customers will port over more of their model offerings to run on Cerebras hardware," according to Needham analyst Quinn Bolton. The Cerebras Systems Analyst: Bolton reiterated a Buy rating and price target of $300. The Cerebras Systems Thesis: The company guided its 2026 revenue and margins higher than Street expectations, Bolton said in the note.
Check out other analyst stock ratings. Management guided to 2026 revenues of $860 million at the midpoint, representing 69% growth and topping Street expectations of $825 million, the analyst stated. 5%, respectively, he added.
com Inc’s (NASDAQ: AMZN ) cloud computing platform, AWS, has inked a definitive agreement with Cerebras Systems for disaggregated inference, from which revenue is expected to ramp in 2027 Core gross margin could expand faster than anticipated, driven by rising cloud prices and capacity expansion The company’s biggest constraint is data center capacity, not wafers The AWS contract represents the company’s first hyperscaler cloud partnership, and management indicated that they see opportunities to potentially partner with other GPU and ASIC players for disaggregated solutions, Bolton stated. 59 at the time of publication on Wednesday.
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