A Cerebras Systems CS-4 server rack, which includes three dinner-plate-sized chips and advanced networking hardware, is displayed at a San Francisco event venue, California, U.S., August 17, 2026. REUTERS/Max A. Cherney/File Photo
A Cerebras Systems CS-4 server rack, which includes three dinner-plate-sized chips and advanced networking hardware, is displayed at a San Francisco event venue, California, U.S., August 17, 2026. REUTERS/Max A. Cherney/File Photo
Nov 13 : Cerebras Systems' shares surged about 17 per cent on Friday after the AI chipmaker raised its annual sales forecast and posted a surprise profit, signaling momentum in its push to challenge Nvidia in the AI chip market.
The rally would add nearly $4 billion to Cerebras' market value if gains hold, calming investor anxieties over massive AI spending that were compounded this week by Nvidia chief executive Jensen Huang's resignation.
• As of Thursday's close, Cerebras' shares were down 47.2 per cent from their May IPO price of $185 apiece
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• Cerebras now expects 2026 adjusted revenue of $940 million to $960 million, up from its previous forecast of $880 million to $890 million
• Analysts, on average, expected sales of $887.04 million for the period, according to data compiled by LSEG
• The chipmaker reiterated plans to triple revenue in 2027, and said it has signed a cloud deal with Microsoft, with details to be shared next year
• On the earnings call, CEO Andrew Feldman said delivery delays under Cerebras' $20 billion multi-year OpenAI deal stemmed from industry-wide shortages of land and power, rather than chip manufacturing constraints
• Its adjusted cloud and services revenue, which reflects the OpenAI deal, more than tripled to $144.9 million for the third quarter.
• Adjusted profit came in at $29.82 million, compared with an adjusted loss of $10.86 million a year earlier. Analysts were expecting an adjusted loss of $38.4 million
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