Cerebras shares surge as profit surprise, forecast raise ease AI spending worries
A Cerebras Systems CS-4 server rack, which includes three dinner-plate-sized chips and advanced networking hardware, is displayed at a San Francisco event venue, California, U.S., August 17, 2026. REUTERS/Max A. Cherney/File Photo
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
Nov 13 : Cerebras Systems’ shares surged about 17 per cent on Friday after the AI chipmaker raised its annual sales forecast and posted a surprise profit, signaling momentum in its push to challenge Nvidia in the AI chip market.
The rally would add nearly $4 billion to Cerebras’ market value if gains hold, calming investor anxieties over massive AI spending that were compounded this week by Nvidia chief executive Jensen Huang’s resignation.
Here are some more details:
• As of Thursday’s close, Cerebras’ shares were down 47.2 per cent from their May IPO price of $185 apiece
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
• 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 billion multi-year OpenAI deal stemmed from industry-wide shortages of land and power, rather than chip manufacturing constraints
• Its adjusted cloud and services revenue, which reflects the OpenAI deal, more than tripled to $144.9 million for the third quarter.
• Adjusted profit came in at $29.82 million, compared with an adjusted loss of $10.86 million a year earlier. Analysts were expecting an adjusted loss of $38.4 million
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
