Cerebras shares tumbled about 14% before the bell on Wednesday after the chip designer warned that annual profit margins would undershoot first-quarter figures in its debut earnings following a blockbuster initial public offering.
Despite upbeat revenue figures, Cerebras's stock was falling in after-hours trading.
Chip maker said it expects to keep operating at a loss, highlighting the heavy costs of the AI buildout.
Cerebras Systems beat Wall Street's sales target in its first quarterly report since the AI chipmaker went public in mid-May. But Cerebras stock slid.
SUNNYVALE, Calif., June 23, 2026 (GLOBE NEWSWIRE) -- Cerebras Systems Inc. (NASDAQ: CBRS), maker of the world's fastest AI infrastructure, today announced financial results for the first quarter of fiscal year 2026, ended March 31, 2026.
Cerebras reported financials for the first time since its IPO in May. The artificial intelligence chipmaker saw its stock pop out of the gate, but the shares are down 28% since then.
Cerebras Systems posted a 94% increase in first-quarter revenue on Tuesday in its first financial update since going public, benefiting from robust enterprise demand for its specialized AI chips.