Cerebras Systems raised its full-year guidance in the second earnings report following the chipmaker's initial public offering in May. However, the stock tumbled about 14% in extended trading.
In the second quarter of 2026, the company's revenue was $180 million, which is lower than the expected $194 million.
- Revenue: $180 million, versus $194 million expected
- Loss per share: 5 cents adjusted, versus 17 cents expected
CEO Andrew Feldman stated that AI demand is "through the roof" and that companies are paying up for its specialty inference chips.
Cerebras expects core revenue of between $214 million and $216 million this quarter, and for the full year, between $880 million and $890 million.
The company reported a net loss of $450.5 million, primarily tied to stock-compensation costs.
Cerebras is challenging AI chip leader Nvidia for some AI tasks, especially those that require "low latency."
The company also stated it expects revenue to triple in the next fiscal year.
