Cerebras · CNBC Technology
Cerebras falls 10% after chipmaker forecasts shrinking margin in first earnings report since IPO
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Cerebras said revenue almost doubled in the AI chipmaker's first earnings report since its initial public offering last month.
Key facts
- Founded in 2015, the Cerebras raised over $6 billion in the offering, the most for a U.S. technology company since Uber 's debut in 2019
- The company's revenue increased 92% in the first quarter from $99.5 million a year earlier, according to a statement
- The shares have since dropped 28%, closing on Tuesday at $226.72
- The company said it expects core revenue growth of 88% from a year earlier to $914 million
Summary
The company's revenue increased 92% in the first quarter from $99.5 million a year earlier, according to a statement. Capitalizing on investor interest in infrastructure for running AI models, Cerebras went public on the Nasdaq in May. The shares have since dropped 28%, closing on Tuesday at $226.72. Cerebras said its core gross margin, or the profit left after accounting for the cost of goods sold, will shrink to between 36% and 38% in the second quarter from 46.5% in the first.