AI chip firm Cerebras reports 92% year-over-year revenue growth but narrower losses in its first earnings since IPO.
Cerebras reported first-quarter revenue of $193.4 million, up 92% from $99.5 million a year earlier, driven by demand for AI infrastructure. The company narrowed its net loss to $14 million from $23.9 million in the same period last year.
The chipmaker went public on Nasdaq in May, raising over $6 billion at an IPO price of $185 per share. Shares surged to $350 on debut but have since fallen 28%, closing at $226.72 on Tuesday.
Cerebras expects second-quarter revenue of $914 million, representing 88% growth, and full-year revenue between $855.5 million and $865 million. The company competes with Nvidia in AI chip markets and operates data centers for AI model deployment.