**Is Cerebras ($CBRS) being overlooked after the IPO selloff?**
The stock is down \~46% from its high, but the business has some interesting numbers:
* **$25.4B RPO**
* **$880–890M** 2026 revenue guide
* Cloud revenue **+287% YoY**
* **750 MW** OpenAI deal
* AWS potentially coming in 2027
The obvious concern is valuation — roughly **47x this year's sales** — plus customer concentration, lockup supply and continued losses.
I wrote a deeper breakdown of the bull case, risks, valuation and what I'm watching next.
**Curious what others think: is CBRS worth the premium?**
