Cerebras reversed year-ago losses by posting an adjusted quarterly profit of $29.82 million, completely defying consensus expectations of a sizable deficit. Revenue from adjusted cloud and services surged past $144 million, heavily bolstered by an ongoing multi-year pact with OpenAI. Management also raised its 2026 revenue guidance well past Wall Street targets while confirming a new cloud agreement with Microsoft. Additionally, CEO Andrew Feldman clarified that shipment delays tied to OpenAI stemmed from power and land shortages rather than chip production flaws.
Key points
The third-quarter adjusted profit of $29.82 million soundly beat analyst forecasts that h…: The third-quarter adjusted profit of $29.82 million soundly beat analyst forecasts that had projected a $38.4 million loss.
Infrastructure constraints involving power and land, rather than silicon manufacturing de…: Infrastructure constraints involving power and land, rather than silicon manufacturing defects, caused recent delivery bottlenecks for OpenAI shipments.
Cerebras continues to target tripling its revenue by 2027 while securing an additional cl…: Cerebras continues to target tripling its revenue by 2027 while securing an additional cloud partnership with Microsoft.
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Nov 13 : Cerebras Systems' shares gained more than 14 per cent in premarket trading on Friday, after the chipmaker raised its annual sales forecast and posted a surprise profit, indicating momentum in its challenge to Nvidia in the AI chip market.
The gains, if they hold, would add over $3 billion to Cerebras' market value, as the upbeat forecast helped offset concerns over heavy AI spending and the uncertainty triggered by Nvidia CEO Jensen Huang's resignation.
• As of Thursday's close, Cerebras' shares were down 47.2 per cent from their May IPO price of $185 apiece
• Cerebras now expects 2026 adjusted revenue of $940 million to $960 million, up from its previous forecast of $880 million to $890 million
• Analysts, on average, expected sales of $887.04 million for the period, according to data compiled by LSEG
• The chipmaker reiterated plans to triple revenue in 2027, and said it has signed a cloud deal with Microsoft, with details to be shared next year
• On the earnings call, CEO Andrew Feldman said delivery delays under Cerebras' $20…
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