Chipmaker raises full-year core revenue outlook to $880-$890 million after reporting $210 million in Q2 sales.
Cerebras Systems increased its full-year revenue guidance to between $880 million and $890 million, up from a prior range of $855 million to $865 million. The chipmaker reported $210 million in core revenue for the second quarter, though GAAP revenue was $180.1 million, with a net loss of $450.5 million compared to a $309.5 million profit a year earlier.
The company expects Q3 revenue of $214-$216 million, above the $212.6 million consensus estimate. Gross margins are projected to expand to 38%-40% this quarter, driven by premium pricing for its specialty AI inference chips. CEO Andrew Feldman cited strong demand for low-latency AI tasks, positioning Cerebras as a competitor to Nvidia in fast inference applications.
Shares fell approximately 12% in extended trading following the report, despite the raised outlook and positive margin guidance.