https://k4i.com/tags/customer-concentration/ Recent content in Customer Concentration on k4i.com Hugo en-us Sat, 04 Jul 2026 00:00:00 +0000 https://k4i.com/cerebras-has-a-real-moat-and-a-real-problem-great-silicon-a-two-customer-revenue-base/ Sat, 04 Jul 2026 00:00:00 +0000 https://k4i.com/cerebras-has-a-real-moat-and-a-real-problem-great-silicon-a-two-customer-revenue-base/ <p>Cerebras is two companies wearing one ticker. One is a genuinely differentiated silicon engineering shop with an architectural edge that the rest of the industry is now scrambling to copy. The other is a revenue base so concentrated that until roughly two months ago it had, functionally, two customers — both in Abu Dhabi. Any honest read of CBRS has to hold both at once, and the second one deserves far more weight than the momentum around the stock suggests.</p>