Cerebras raises full-year revenue guidance, stock falls ~12% after hours

Published Aug 12, 08:17 PM UTC

Cerebras Systems, an AI chipmaker that went public in May 2026, reported better-than-expected second-quarter revenue of $210 million and raised its full-year core revenue guidance to between $880 million and $890 million. Despite the positive results, the stock fell about 12% in extended trading. CEO Andrew Feldman stated that AI demand is 'through the roof,' particularly for the company's specialty inference chips that compete with Nvidia. Cerebras also announced partnerships with AMD and OpenAI, and reported $25.4 billion in remaining performance obligations. The company expects revenue to triple in the next fiscal year and sees gross margins expanding to 38-40% in the current quarter.