THIS HOT ARTIFICIAL INTELLIGENCE IPO STOCK IS DOWN 52 %, BUT IT COULD DOUBLE FROM HERE , ACCORDING TO WALL STREET

What happened: Cerebras (CBRS) shares are down 52% from their first-day close after its May IPO. Analysts remain bullish, with a median price target near double the current price. Key numbers: First-day close $311.07, 68% above IPO price. Q2 cloud revenue up 281% year over year, hardware sales down 23%. Why it matters: The drop followed a Q2 earnings miss and reports that OpenAI runs its newest model on Nvidia GPUs, raising customer concentration and execution concerns. Analysts still see upside if Cerebras can build data centers and meet OpenAI demand. Coverage: 3 outlets in 24h

Cerebras (CBRS) shares are down 52% from their first-day close after its May IPO. Analysts remain bullish, with a median price target near double the current price.

The drop followed a Q2 earnings miss and reports that OpenAI runs its newest model on Nvidia GPUs, raising customer concentration and execution concerns. Analysts still see upside if Cerebras can build data centers and meet OpenAI demand.