Cerebras · U.S. · Datacenter Dynamics
Cerebras shares fall by 20 percent after company publishes first earnings report since its IPO
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Wafer-scale chip designer Cerebras Systems has seen its stock price fall by around 20 percent after posting its first earnings report since floating on the stock market over a month ago.
Key facts
- Cerebras filed to go public on April 18, 2026, having reported $87.9m in net income on $510m in revenue during 2025
- For the first quarter, the company reported total revenue was $191.3 million, up 92 percent Year-on-Year (YoY), with net losses narrowing from $23.9 million to $14 million
- Cerebras went public on May 15, 2026, raising $5.55 billion from the sale of 30 million shares, resulting in the largest IPO for a US tech company since 2019
- The company, which had initially priced its shares at $185, a figure that was already above the expected range, opened at $350 a share
Summary
In its debut earnings report, Cerebras downgraded its full-year 2026 earnings gross margin to between 38, 41 percent, below the 47 percent it reported in its first quarter, with the company forecasting a gross margin in the range of 36, 38 percent for the second quarter. For the first quarter, the company reported total revenue was $191.3 million, up 92 percent Year-on-Year (YoY), with net losses narrowing from $23.9 million to $14 million. On the same call, Cerebras CEO Andrew Feldman commented on some of the wider market factors, noting that while memory, CoWaS, and 3nm were major constraints for other chip companies, Cerebras can avoid all three. “Despite this, they've added data centers around the world.