TLDR
- Cerebras Systems (CBRS) fell 10% on Monday to $147.76, a new 52-week low.
- A report says OpenAI’s GPT-6.1 Sol “Ultrafast” inference runs on Nvidia GPUs, not Cerebras hardware.
- Microsoft said its Maia chips will be the primary inference system for its own products from 2027.
- Insiders sold $387.7 million of stock last quarter, and 19.4 million more become eligible for sale on October 14.
- Analysts still rate the stock Moderate Buy with an average price target of $299.90.
Cerebras Systems (CBRS) fell 10% in afternoon trading on Monday, hitting $147.76. That is a new 52-week low for the AI chipmaker.
The stock closed Friday at $164.17. Earlier in the session, MarketBeat had it down 7% at a low of $155.50, so the slide picked up speed through the day.
Volume topped 2.1 million at that earlier point. The 50-day moving average sits at $199.54, well above where the stock now trades.
The pressure traces back to an industry report from late September. It says OpenAI’s GPT-6.1 Sol “Ultrafast” inference level runs on Nvidia GPUs rather than Cerebras hardware.
That matters because OpenAI has a multi-year, multi-billion dollar computing deal with Cerebras. The report cut into the story that many buyers had been betting on.
Microsoft Adds to the Pile
Microsoft also made news on Monday. It said its Maia family of chips will become the primary inference system for its own products and services starting in 2027.
For a stock already under strain, that added a fresh competitor to worry about. Traders appear to have taken it as one more reason to step back.
The broader market gave no help. The S&P 500 slipped 0.06% to 7,807.24, the Dow gained 0.38%, and the Nasdaq Composite eased modestly.
Cerebras now trades more than 60% below its all-time high of $386.34. That peak came on its IPO debut day.
Market cap stands at $36.16 billion. The company has a current ratio of 5.82 and a debt-to-equity ratio of 0.02.
Insider Sales and Analyst Views
The company last reported earnings on August 12. Revenue was $209.87 million, up 74.3% from a year earlier.
Adjusted loss per share came in at $2.98, against a consensus estimate of a $0.21 loss. Analysts expect a loss of $0.52 per share for the full year.
Insiders have been sellers. CTO Sean Lie sold about $25.1 million of stock on September 25 at an average price of $208.97, under a pre-arranged Rule 10b5-1 plan.
Director Steven Vassallo sold about $10.5 million on September 4 at $210.30. In all, insiders sold $387.7 million worth of stock over the past quarter, and a Form 4 dated October 7 showed more activity.
Some big funds have been buyers. Value Aligned Research Advisors took a $241.9 million new position in the second quarter, and Wellington Management added a stake worth about $194.9 million.
Analyst views are still mostly positive. Two rate the stock Strong Buy, ten rate it Buy, one says Hold and one says Sell.
Several firms have trimmed targets. Citigroup cut its target from $340 to $320, and Mizuho went from $310 to $300.
Lockup timing is the next item on the calendar. About 19.4 million shares become eligible for sale around October 14, two days from now, as part of a staggered post-IPO unlock.
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