Did You Acquire Blaize Common Stock Between July 17, 2025 and August 13, 2026 or Pursuant or Traceable to the Offering Materials Issued in Connection with Blaize’s May 2026 Public Offering?

A securities class action has been filed on behalf of all persons and entities who purchased or otherwise acquired Blaize Holdings, Inc. (“Blaize” or the “Company”) (NASDAQ: BZAI) common stock between July 17, 2025 and August 13, 2026, inclusive (the “Class Period”) and all persons and entities who purchased or otherwise acquired Blaize common stock pursuant or traceable to the Offering Materials issued in connection with Blaize’s May 2026 public offering.

The action, Alyahya v. Blaize Holdings, Inc., et al., Case No. 2:26-cv-10609, was filed on September 17, 2026 in the U.S. District Court for the Central District of California. The action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, and Sections 11, 12(a)(2), and 15 of the Securities Act of 1933.

What Does the Complaint Allege?

The complaint alleges that Defendants made materially false and/or misleading statements concerning Blaize’s agreements with Starshine Computing Power Technology Limited and NeoTensr and the extent to which those agreements supported Blaize’s revenue projections.

Specifically, the complaint alleges that: (1) Starshine was an unproven counterparty and there was substantial uncertainty whether it had the resources and operational capacity to fully perform under the Starshine agreement; (2) there was substantial uncertainty whether NeoTensr had the resources and operational capacity to issue purchase orders sufficient to generate the anticipated $50 million in first-year revenue; (3) as of March 31, 2026, 53% of Blaize’s accounts receivable were more than 90 days past due and two customers located in China, with subsequent disclosures indicating that those customers were Starshine and NeoTensr, accounted for approximately 93.3% of the Company’s accounts receivable; (4) Blaize had not secured the inventory needed for an anticipated NeoTensr delivery despite statements concerning that inventory; and (5) as a result, Defendants allegedly lacked a reasonable basis for representing that Blaize would achieve its full-year 2026 revenue guidance.

The complaint further alleges that the offering materials for Blaize’s May 2026 public offering contained materially inaccurate statements and omissions concerning Blaize’s receivables and the Starshine and NeoTensr agreements, including that Blaize had not secured the inventory needed for the anticipated NeoTensr delivery. In the offering, Blaize sold 18,918,918 shares of common stock at $1.85 per share.

BZAI Stock Declines Following August 13 Disclosure

The complaint alleges that the truth was finally revealed after the market closed on August 13, 2026, when Blaize reduced its full-year 2026 revenue outlook from $130 million to $40-$43 million, citing commercial opportunities that did not convert into orders and higher supply-chain costs. Blaize also disclosed that Starshine’s $8.8 million receivable remained outstanding and that it did not expect further purchase orders from Starshine.

According to the complaint, Blaize common stock fell from $1.17 per share on August 13, 2026 to $0.59 per share on August 14, 2026, a decline of nearly 50% in one day.

October 5, 2026 Lead Plaintiff Deadline

The deadline to seek appointment as lead plaintiff is October 5, 2026. You do not need to seek appointment as lead plaintiff to remain a member of the proposed class.

Blaize Investors: Contact Kehoe Law Firm

If you purchased or otherwise acquired Blaize common stock during the Class Period or pursuant or traceable to the May 2026 public offering, and suffered financial losses, you are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to discuss your potential legal rights.

For a free, no-obligation legal evaluation, contact:

Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and retirement-plan mismanagement. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.

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