QuantumScape develops solid-state lithium-metal batteries aimed at extending electric vehicle range and charging speed. The company partners with Volkswagen to industrialise its QSE-5 battery cell and has a multi-year development agreement with Honda. Cerebras Systems builds wafer-scale processors for AI computing. For the fiscal year ended 31 December 2025, Cerebras reported revenue of nearly $510 million, up 75.7% year-on-year. The company achieved net income of $237.8 million, marking its transition to profitability with a net margin of 46.6%. Free cash flow was negative $392.8 million. The company's debt-to-equity ratio stood at -0.5x, indicating liabilities exceed shareholder equity. Its current ratio was 2.1x. Cerebras serves customers globally through cloud and on-premises deployments of its CS-3 platform.

Cerebras Systems has announced a new AI data centre in Mikkeli, Finland, developed with Compute Nordic Finland. The facility will scale in phases to 165 MW of contracted IT capacity, with construction on the initial 50 MW phase already under way. The agreement includes seven-year contract terms for each service order. Independent analysis estimates the project represents an investment of €1.0–1.7 billion at full scale, supporting 80–250 direct permanent jobs and €0.8–2.5 million per year in property tax revenue. The facility is designed for efficiency, using closed-loop cooling systems and supporting waste-heat recovery. Capacity will scale from 50 MW to 80 MW to the full 165 MW as demand grows.

Cerebras Systems trades at $185.43, while the average Wall Street price target sits at $291.64, implying 57% upside. Ten of 11 analysts rate it Buy despite shares falling 40% from their May high of $311.07. The AI chipmaker's second-quarter revenue of $180.11 million missed the $193.55 million estimate. Management guided third-quarter core operating margin to negative 23% to negative 25%, down from negative 16% in the second quarter. The selloff was company-specific. Nvidia fell just 7% and AMD dropped 10% over the same period. UBS analyst Timothy Arcuri maintains a $330 street-high target, citing the pending CS-4 wafer-scale platform launch and gross margins expected to scale above 40% as yields mature.