Cerebras Systems, a Nvidia rival, has introduced third-gen waferscale chips with four trillion transistors, claiming to revive Moore's Law. The company also announced new wafer-scale hardware, a deal with Qualcomm for inferencing, and is generating cash. This development comes as Nvidia faces competition from Cerebras, which claims to have created the world's fastest and largest AI chip capable of processing tens of trillions of parameters. As a result, Nvidia's stock is no longer Wall Street's favorite, with Cerebras Systems gaining attention.