Chapter 1: What makes Cerebras a significant player in the AI industry?
i'm going to talk about a company that turned down elon musk they spent 200 million dollars solving a problem most engineers said could not be solved and then just a matter of a few days ago walked into the nasdaq pulled guns from the metaphorical holster and raised 5.5 billion dollars in the largest us tech ipo since uber in 2019.
Bye.
welcome to stock club the podcast where we find and discuss stocks that anyone can buy many of which we believe will go on to grow your wealth before i welcome my friend and colleague mike i just want to remind you listeners that we off the back of last year's great success have decided to run investicon this year 2026 actually interestingly we called it investicon year zero because we wanted to just gauge if there was interest
if there was excitement and if there was results and we had all of those things in abundance. So this year, on the 27th of August, in collaboration with the Erlangus College Classic American football game held in Crow Park, we are running Investicon separate to the gig in Crow Park. It's being held in Dublin's Market Bar, which is probably the coolest bar
in what's effectively the world capital of bars. And we have something far cooler than a location and far cooler than the lovely tapas food you will be served if you attend.
But we have some of the most revered and successful stock pickers in the world joining us for the day where we are going to have chats and laughs on stage where Mike, my colleague, and I interview the greatest minds in the investing world. So what do you think, Mike?
How are you this week? You all ready for that?
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Chapter 2: How does Cerebras' Wafer Scale Engine differ from traditional GPUs?
I am. You're a great salesman now. I don't think the market coolest bar in Dublin. I'm sure plenty of buyers will be listening to this with some objections, but no, I'm good.
It's pretty cool.
Chapter 3: What are the financial highlights of Cerebras' recent IPO?
But I guess I'm such a good salesman. I forgot to say go to investicon.ie and secure an early bird ticket because they are going fast. And we are going to have a laugh.
Chapter 4: What are the potential risks associated with Cerebras' revenue concentration?
And if you attend this year, you get first access to buy next year, should we do Investicon year two. So get on to investicon.ie, which is the TLD top level domain for an Irish website.ie.
Chapter 5: How has Cerebras expanded its customer base and partnerships?
Do you know, and not to distract this whole podcast, but do you know, I think I'm pretty sure it was Antigua had the TLD.ai and that's become their entire economy essentially is selling TLDs to websites and companies and all the rest.
So GDP with the.ai domain and then GDP without it is basically how they report the economic figures.
Chapter 6: What are the bullish arguments for investing in Cerebras?
Pretty much. Yeah. So they looked into that one.
like Ireland with the aviation industry, do we include the plane leasing or not? Should we give them both numbers?
There's more work being done in Ireland now than just being given a domain name. But yeah, that's my fun fact for the day. That was a lot of fun.
Chapter 7: What concerns do critics have regarding Cerebras' business model?
I think we've just doubled our listenership while you were telling us that, Mike. It was topical for today. People are ringing their cousins and friends and father. You should tune in. Wait to hear this for a fact. So thank you, Mike, for bringing us that little sparkle of joy. Mike, can I talk to you about MIPO?
Chapter 8: What does the future hold for AI IPOs in 2026?
Yeah. And as I was saying, it's topical with Antigua. Maybe they actually have to go and pay Antigua for a top level domain. These guys we're talking about today. So we're talking about Cerebras.
Yeah. Why would they? Well, I suppose you're right. Of course. I mean, the nature of their business. Sorry. Okay. Keep up, Emma. Well, so let me rewind and tell our listeners. So I'm going to talk about a company that turned down Elon Musk. They spent $200 million solving a problem most engineers said could not be solved. And then just a matter of a few days ago, walked into the Nasdaq.
pulled guns from the metaphorical holster and raised $5.5 billion in the largest US tech IPO since Uber in 2019. And if you haven't heard of it, the company, well, you have heard of it, I said a few seconds ago, the company is Cerebras, ticker C-B-R-S. And if you have not been paying attention to this company, I think now is the time to put it on its radar. What do you think, Mike?
Yeah, I was a bit and I'm not shocked. I'm not shocked by anything that happens in the market. But just a company of this size going public that I hadn't really heard of, like the only rumblings were like a potential Nvidia competitor for it to go and be the biggest IPO in seven years.
it's pretty impressive but I suppose it's indicative of the current market we're in where there is clearly demand for AI names and new shiny AI names with the kind of customer um the customer book that service has and the hype around it the fact that it is being seen as an Nvidia competitor and a genuine one because because Nvidia has become so dominant obviously people are looking at their
their margin profiles. If a company like Nvidia, which deals in hardware, can have 70, 75% gross margins, that's someone else's opportunity.
Yeah. I mean, I was in France about two, three weeks ago where I was chatting with a new friend who I will just refer to by his given name, which is Bob. And Bob is a very, very senior law person in the United States, one of the most senior. And he was, I think, an angel investor in Cerebus. And he told me, the amount he invested.
And when I did it back at the envelope in my mind, I suppose, of what it was worth now, I ran out of zeros. I was like, well done, Bob, that's a great investment. And to my own embarrassment, I I wasn't really aware of the business, which kind of prompted me. And he was quite enthused by the forthcoming IPO, which has now happened.
And I dived in and as I usually do, Mike, I have a little bit of an origins story about this business. So can I indulge you and our listeners for a couple of minutes? Yeah, please do. Because it's a relatively new company. I think it's only. It absolutely is. It was only founded in 2015 by five engineers, which is hardly surprising. 11 years to $100 billion valuation is kind of nuts, isn't it?
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