Cerebras Systems Inc. stock [NASDAQ: CBRS] traded up by 6.75 percent after bullish coverage of its AI chip leadership, following a period of whipsawing driven by an earnings miss and analyst upgrades. Morgan Stanley’s overweight rating and $250 target sent CBRS up roughly 19%–20% on AI inference optimism, while Wedbush kept an Outperform on CBRS, stressing TSMC wafer supply and AI accelerator share gains. Q1 revenue for Cerebras Systems jumped to $193.4M, but an EPS miss sparked a 16%–17% sell‑off on heavy trading. CBRS more than doubled Q1 revenue to $193.4M and narrowed its net loss to about $14.0M. On Friday, June 26, 2026, the stock opened near $162.66, dipped, and then steadily climbed toward $181.96 before closing just under $180. Over the last couple of weeks, Cerebras Systems shares slid from above $230 to around $179.90 following the post‑earnings flush.