From Startup Fortune · · 50s
Cerebras stock jumps 17% on Microsoft deal
Cerebras Systems shares rose 17% after signing Microsoft deal and tripling 2027 revenue pledge.
In brief
Cerebras Systems shares rose 17% after signing Microsoft deal and tripling 2027 revenue pledge. Cerebras Systems stock increased 17% following Microsoft agreement and revenue target for 2027. Originally reported by Startup Fortune.
Cerebras reports Q3 revenue
Cerebras Systems reported third-quarter core revenue of $230.9 million, beating expectations of $214.7 million.
Microsoft deal signed
Cerebras signed a deal with Microsoft for revenue to start appearing in 2027.
2027 revenue target
Cerebras pledged to triple 2027 revenue from current levels.
Backlog details
Cerebras has $26.1 billion in remaining performance obligations tied to OpenAI.
Margin guidance
Cerebras expects core gross margin to rise from 41% to 47% to 49% by 2027.
Stock performance
Shares rose 17% in extended trading to $115 after earnings report.
The key point
Cerebras Systems stock increased 17% following Microsoft agreement and revenue target for 2027.
