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Cerebras reports 92% revenue growth in chipmaker's first earnings report since IPO

Cerebras Systems reported first-quarter 2026 revenue of $193.4 million, marking a 92% year-over-year increase. Despite beating Q1 sales targets and announcing a multi-year deal with OpenAI, shares fell in after-hours trading. The company expects core revenue to grow 88% to $914 million in the second quarter.

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The company released its first financial results since its May 2026 Nasdaq IPO.

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  1. Cerebras Reports 92% Revenue Growth in First Post-IPO Earnings

    Cerebras Systems reported first-quarter 2026 revenue of $193.4 million, marking a 92% year-over-year increase. Despite beating Q1 sales targets and announcing a multi-year deal with OpenAI, shares fell in after-hours trading. The company expects core revenue to grow 88% to $914 million in the second quarter.

    What's confirmed:

    • Cerebras reported first-quarter revenue of $193.4 million, a 92% increase year-over-year.
    • The company recorded a loss per share of $0.22.
    • Cerebras went public on the Nasdaq in May 2026.
    • Shares fell in after-hours trading following the earnings release.
    • Cerebras announced a multi-year deal with OpenAI.
    • The company provided Q2 core revenue guidance of $914 million, representing 88% growth.
    • Full-year core revenue guidance is between $855.5 million and $865 million.

    Still unconfirmed:

    • Cerebras landed a huge deal with AWS.
    • The company projects full-year negative margins.
    • First-quarter revenue was $194.3 million.
    • The IPO priced at $185 and closed its first day at $311.07.
    confidence 90%