On June 29, Cerebras Systems rose 5.73% overnight, trading at 192.0 USD/share, with turnover of 757,300 USD. The rebound was driven by multiple investment banks reaffirming bullish stances following a sharp post-earnings selloff exceeding 25%.

The stock had previously plunged after its first-ever quarterly report revealed Q2 core gross margin guidance of just 36%-38%, far below industry leaders, briefly falling below its 185 USD IPO price. Morgan Stanley highlighted that with substantial signed order backlog and 750MW committed capacity agreements, the company is well-positioned to capture growing AI inference demand. Q1 core revenue surged 92% year-over-year to 193 million USD, exceeding consensus estimates, while a multi-year agreement with OpenAI exceeding 20 billion USD and a data center deployment agreement with AWS provided additional fundamental support for the recovery.

Within the Semiconductors sector, Micron Technology up 1.91%, NVIDIA up 0.59%, Broadcom up 0.52%, Advanced Micro Devices down 0.29%, Intel down 0.04%.

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