Cerebras is a good example here. Largest IPO of 2026 and as of Friday, down 33% from their top and about $15 away from their initial price.
CFO was at Bird (a SPAC flop) and CEO was previously charged by the SEC with a felony... for cooking the books.
Everyone wants you to believe that a giant wafer is the future (and soon enough layers of wafers), but a P/E of $500, just doesn't make sense for a company selling AI fast tokens.
Especially with a whole bunch of other solutions just waiting for tapout and competing with everyone else for more and more memory allocations to be able to hold the models.
CFO was at Bird (a SPAC flop) and CEO was previously charged by the SEC with a felony... for cooking the books.
Everyone wants you to believe that a giant wafer is the future (and soon enough layers of wafers), but a P/E of $500, just doesn't make sense for a company selling AI fast tokens.
Especially with a whole bunch of other solutions just waiting for tapout and competing with everyone else for more and more memory allocations to be able to hold the models.