CBRS News
R40 coverage for Cerebras Systems Inc. (CBRS).
R40 Coverage
Cerebras Just Shipped an Inference Machine With No HBM. It Holds 132 Gigabytes on Wafer, and the Models It Advertises Need 50,000.
The CS-4 is the concrete existence proof that inference silicon can be built without high-bandwidth memory: three wafer-scale engines, 750 PFLOPS, 129.6 PB/s, no HBM. It also holds 132 GB of on-wafer SRAM against the 50-trillion-parameter models it advertises, which need 25,000 to 100,000 GB. The weights have to live in DRAM, and Cerebras would need 7.6× its current revenue to dent Micron's cloud-memory line under an assumption that cannot be true.
Cerebras' First Full Quarter as a Public Company Cost 30 Points of Gross Margin
Cerebras reported June-quarter revenue of $180.1M, down sequentially from $193.4M, with gross margin falling from 44.6% to 14.2% and free cash flow at negative $477M on $417M of capital expenditure. The $450M net loss is mostly a one-off IPO stock-compensation charge; the margin is not.