Cerebras Systems Shares Rise 11% Following Revenue Beat and Microsoft Partnership Announcement
Cerebras Systems reported third-quarter core revenue of $230.9 million, surpassing LSEG consensus estimates of $214.7 million. Despite a loss per share of 67 cents, the AI chipmaker provided strong forward guidance, projecting fourth-quarter revenue between $310 million and $330 million with gross margins of 47% to 49%, both exceeding analyst expectations. The company also announced a new strategic deal signed in October with Microsoft, adding to its existing relationships with major cloud providers including Amazon and Oracle. CEO Andrew Feldman noted that the company is evaluating financing options to meet ramping demand as it seeks to challenge Nvidia's dominance in the AI hardware market by leveraging GPU lead times and costs.
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Topics: AI chips cloud computing earnings report partnership revenue growth
Part of the story Cerebras Systems Shares Rise 11% Following Revenue Beat and Microsoft Partnership Announcement (3 articles)