From SiliconANGLE · Mike Wheatley · · 1m 30s
Cerebras stock jumps 17% with AI revenue surge
Cerebras Systems stock rises 17% after reporting strong AI chip revenue and Microsoft deal.
In brief
Cerebras Systems stock rises 17% after reporting strong AI chip revenue and Microsoft deal. Cerebras Systems stock increased 17% following third-quarter revenue of $230.9 million and a new Microsoft deal. Originally reported by SiliconANGLE.
Cerebras reports strong quarterly revenue
Cerebras Systems delivered third-quarter revenue of $230.9 million, up 70% from a year earlier.
Microsoft deal boosts stock price
Cerebras announced a new deal with Microsoft Corp., sending its stock up almost 18% in late trading.
Company reports adjusted revenue
Core adjusted revenue for the period came to $230.9 million, surpassing Wall Street’s target of $214.7 million.
Accounting adjustments explained
The adjustments in Cerebras’ revenue are the result of some of the quirks in its accounting procedures.
CEO discusses competitive advantage
Chief Executive Andrew Feldman said Cerebras has an advantage over competitors struggling with customer demand and order backlogs.
Backlog grows to $26 billion
Cerebras backlog rose from $25 billion in August to $26 billion at the end of the quarter.
Microsoft deal details
Cerebras signed a deal with Microsoft Corp. a month earlier, expecting revenue in quarter one of fiscal 2027.
Nvidia turmoil impacts market
Nvidia faces turmoil after co-founder Jensen Huang resigned amid reports of affairs and spying allegations.
Cerebras targets revenue triple
Cerebras believes revenue will triple by end of fiscal 2027, reaching $2.85 billion.
The main idea
Cerebras Systems stock increased 17% following third-quarter revenue of $230.9 million and a new Microsoft deal.
