Cerebras shares climb as Wall Street brokerages back AI chip strategy
June 8 : Cerebras shares gained on Monday as multiple Wall Street firms initiated coverage with bullish calls after the quiet period, backing the chip designer’s unconventional AI strategy weeks after its strong debut. Shares of the company rose 3 per cent to $207.54, with at least nine brokerages — including IPO bookrunners Morgan Stanley, Citigroup, Barclays and UBS — initiating coverage of the stock. The California-based firm designs wafer-scale engine chips roughly the size of a dinner plate to speed up processing, challenging traditional GPU-based systems, like those of Nvidia, that rely on clusters of interconnected chips. “As AI workloads become increasingly reasoning-intensive, demand for fast, low-latency inference is growing rapidly,” said Morgan Stanley analysts led by Joseph Moore, who rate the stock “overweight”. “This is a unique chance to invest in an AI processor company with a first-mover advantage against Nvidia, and offers substantial upside as the category evolves.” Citigroup expects Cerebras’ shares to hit $340 in the next 12 months, according to LSEG-compiled data. IPO underwriters can publish research on a stock …








