Cerebras Systems, a Sunnyvale, California-based AI chip designer that listed on Nasdaq in May under the ticker CBRS, raised its 2026 adjusted revenue forecast to US$880 million to US$890 million from US$855 million to US$865 million.

The company also lifted its adjusted gross margin outlook to 41% to 43%, citing demand from companies expanding data center capacity for AI services.

Second-quarter sales rose 74.3% to US$180.11 million, and adjusted loss narrowed to US$6.91 million from US$40.5 million a year earlier.

Core cloud and services revenue nearly quadrupled to US$127.73 million.

Cerebras is counting on demand for AI inference, the computing work done when users query chatbots, to challenge Nvidia.

It is also expanding chip volumes to support an OpenAI AI-compute agreement worth more than US$20 billion over several years.

Cerebras shares fell more than 14% in extended trading after the results.

Investors are watching customer concentration after public filings showed 62% of the company’s revenue last year came from Mohamed bin Zayed University of Artificial Intelligence.

🔗 Source: Reuters

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