Andrew Feldman, co-founder and CEO of Cerebras Methods, speaks after the corporate’s preliminary public providing on the Nasdaq MarketSite in New York on Might 14, 2026.
Michael Nagle | Bloomberg | Getty Photographs
Cerebras Methods raised its full-year steerage within the second earnings report following the chipmaker’s preliminary public providing in Might. However the inventory tumbled about 14% in prolonged buying and selling.
This is the way it did within the second quarter versus LSEG consensus estimates:
- Income: $180 million, versus $194 million anticipated
- Loss per share: 5 cents adjusted, versus 17 cents anticipated
Cerebras mentioned in a assertion on Wednesday that it expects core income of between $214 million and $216 million this quarter.
The corporate raised its full-year outlook and now expects core income of between $880 million and $890 million, up from a previous vary of $855 million to $865 million.
The $180 million gross sales determine for the second quarter represents core income. Cerebras additionally reported a complete income determine of $210 million, which incorporates “pass-through income.”
The corporate recorded a internet lack of $450.5 million, after ending with a revenue of $309.5 million, or $1.91 per share, a 12 months earlier. Many of the loss is tied to stock-compensation prices of $386.6 million.
Cerebras CEO Andrew Feldman mentioned in an interview that AI demand is “by means of the roof” and that firms are paying up for its specialty inference chips.
Cerebras is difficult AI chip chief Nvidia for some AI duties, particularly those who want “low latency,” or fast responses for interactivity. The corporate calls it “quick inference.” The corporate mentioned its core gross margin will develop to between 38% and 40% within the present quarter, addressing a priority for traders.
“Gross margins are are in a great spot, and rising, as a result of quick inference is priced at a premium,” Feldman mentioned in an interview, including that Cerebras was capable of improve the AI output of its methods.
Cerebras went public on the Nasdaq in Might, capitalizing on investor curiosity in semiconductors that may run AI fashions. It priced its providing at $185 and raised $6.4 billion within the providing. The inventory peaked in Might and has fallen since, however closed on Wednesday at $262.06, up 42% from its IPO.
The chipmaker has $25.4 billion in remaining efficiency obligations, which it mentioned was an indication of “extraordinary future demand.” Feldman mentioned that as Cerebras grows, it’s going to profit from bigger scale. The corporate additionally mentioned it expects income to triple within the subsequent fiscal 12 months.
“We are going to manufacture extra effectively. We’ll get higher pricing on componentry. We’ll amortize our manufacturing group over extra items,” Feldman mentioned. “All of these level up and to the suitable.”
In latest weeks, Cerebras introduced a partnership with Nvidia rival Superior Micro Gadgets, with merchandise going into manufacturing later this 12 months, and mentioned that OpenAI can use its chips to serve its newest mannequin, GPT 5.6 Sol. Cerebras additionally provides entry to its chips by means of its cloud, which reported $126 million in income in the course of the June quarter.
WATCH: Cerebras sees OpenAI’s chip competing with different GPUs
