Cerebras Stock Is Up 11% Since Its IPO. Is It a Buy?

Cerebras, an AI chipmaker that went public at $185 per share in May, now trades at $205 (11% above IPO price) after peaking at $350. The company produces massive wafer-scale AI processors and has secured a $20 billion deal with OpenAI plus AWS integration. With 76% core revenue growth to $510 million in 2025, a $25 billion backlog, and projected 143% three-year revenue CAGR, analysts view it as a promising long-term AI play despite current volatility and unprofitability.