Cerebras Systems Inc. (NASDAQ:CBRS) shares are soaring Wednesday as investors position ahead of the AI chipmaker’s second-quarter results, due after the market closes today.
- Cerebras Systems stock is charging ahead with explosive momentum. What’s fueling CBRS momentum?
Cerebras Heads Into Q2 Earnings After Landmark OpenAI and AWS Deals
Wall Street is projecting a second-quarter loss of 17 cents per share on revenue of $194.20 million. That figure lines up closely with Cerebras’ own guidance of approximately $194 million in core revenue, issued alongside first-quarter results, suggesting the Street expects the company to land in line with its own forecast.
If Cerebras meets that mark, the results would build on a first quarter in which core revenue reached $191.3 million, up 12% sequentially and 92% year-over-year.
The first quarter’s biggest headline may have been Cerebras’ new agreement with OpenAI, a multi-year deal valued at more than $20 billion under which OpenAI will deploy 750 megawatts of Cerebras’ inference computing capacity. The two companies also co-launched Codex-Spark, a coding model built for near-instant responses. Cerebras separately began a multi-year partnership with Amazon Web Services to scale fast inference computing, under which AWS’s Trainium 3 chips will handle prefill processing while Cerebras’ CS-3 systems run decoding.
CEO Andrew Feldman said the company’s wafer-scale chip technology delivers the fastest AI processing available, arguing that speed advantage is fueling growing demand from customers such as OpenAI and AWS.
Cerebras Systems Technical Levels to Watch
CBRS is trading well above its short-term trend markers, sitting about 27% over the 20-day SMA at $207.43 and about 26% over the 50-day SMA at $208.82. That positioning shows strong upside extension compared with the recent consolidation zone. Even so, the 20-day SMA is still below the 50-day SMA, which keeps the longer-term trend repair process unfinished even as price moves higher.
MACD is offering the clearest read on momentum. It is above its signal line and the histogram is positive, which points to improving momentum compared with the previous downswing. In simple terms, MACD above the signal line suggests sellers are losing influence and buyers are gaining control even if the broader trend has not fully shifted.
From a levels standpoint, the stock is sitting near the midpoint of its 52-week range, which spans from $160.81 to $386.34. After a swing low in June and a swing high in May, the current move looks like a continuation attempt off that June base. Trend-focused traders will be watching to see if price can stay above the short-term averages long enough to eventually flip the 20-day and 50-day relationship back to bullish.
- Key Resistance: $386.34
- Key Support: $208.82
CBRS Shares Are Flying
CBRS Price Action: Cerebras shares were up 11.58% at $261.95 at the time of publication on Wednesday, according to Benzinga Pro.
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