Blaize Holdings is a buy, this analyst says

Roth Capital analyst Scott Searle maintained a “Buy” rating on Blaize Holdings (Blaize Holdings Stock Quote, Chart, News, Analysts, Financials NASDAQ:BZAI), saying the edge AI processor company remains high-risk but is building a broader customer base ahead of a second-half 2026 ramp.

In his April 29 update, Searle said Blaize shares have come under pressure because of customer concentration, largely in Asia, as well as uncertainty around the timing of its revenue and gross-margin ramp. Near-term shipments are weighted toward lower-margin third-party hardware used to support Blaize software and inference processors, while memory availability and costs are also pressuring server margins.

Still, Searle said the early-stage ramp is typical for an emerging technology company, particularly one targeting mission-critical hybrid data centres and edge AI applications.

Blaize had more than 30 ecosystem and channel partners, 25 proofs of concept and 20 customer wins as of Dec. 31, 2025. Searle said recent additions, including Nokia, Winmate, GSiL and NeoTensr, support a back-half 2026 sales and gross-margin ramp, with the company targeting $130-million in 2026 revenue and breakeven results by mid-2027.

He said adoption of edge inference and data-centre hybridization is gaining momentum as companies move AI processing closer to where data is created and add inference accelerators alongside GPUs.

Searle said inference chips are increasingly needed because GPUs and CPUs are optimized for training and can be overbuilt for running existing AI models. That creates room for lower-cost, lower-power AI accelerators such as Blaize’s products in edge, video, autonomous and industrial IoT applications.

Searle expects Blaize to post Adjusted EBITDA of negative $50.0-million on $118.9-million in revenue in fiscal 2026, improving to negative $15.2-million on $176.8-million in revenue in fiscal 2027.

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