Key facts
- Cerebras raised its 2026 adjusted revenue forecast to $940 million to $960 million, from $880 million to $890 million.
- Third-quarter adjusted sales rose 70% to $230.9 million, beating the $214.70 million LSEG average estimate.
- Core cloud and services revenue, which reflects the OpenAI deal, more than tripled to $144.9 million.
- Net loss widened to 67 cents per share from 41 cents in the same quarter a year earlier.
- Cerebras is expanding chip volumes to support a $20 billion multi-year agreement to supply computing power to OpenAI.
Cerebras Systems raised its 2026 adjusted revenue forecast to $940 million to $960 million on November 12, up from $880 million to $890 million, citing demand for AI computing capacity as it competes with Nvidia and cloud providers.
The Sunnyvale, California-based company said third-quarter adjusted sales rose 70% to $230.9 million, beating analysts' average estimate of $214.70 million, according to data compiled by LSEG. Core cloud and services revenue, which reflects its OpenAI deal, more than tripled to $144.9 million.
Cerebras reported its net loss widened to 67 cents per share from 41 cents in the same quarter a year earlier. The company is expanding chip volumes to support a $20 billion multi-year agreement to provide computing power for OpenAI.
Its flagship wafer-scale engine is a single chip the size of a dinner plate containing trillions of transistors, a design Cerebras says is more efficient than connecting thousands of smaller graphics processors.