Shares of Cerebras are down 14% in premarket trading following its first earnings report since its recent IPO.
The share slump follows the company’s report that revenue rose 92% year over year in the first quarter, but weak guidance for gross margin weighed on investor confidence.
Cerebras said it expects its core gross margin to be between 36% and 38% in the second quarter, down from 46.5% in the previous three months.
Andrew Feldman, Cerebras co-founder and CEO told investors, “This was an outstanding start to 2026 for Cerebras. And we are proud of our achievements. AI has moved from being a novelty to being useful and productive. Cerebras’ wafer-scale technology delivers the fastest AI in the world. And fast AI is more valuable than slow AI because it is more productive. It provides answers in less time. It delivers solutions in less time. This in turn has created significant momentum with pioneering customers like OpenAI and AWS and emerging customers as well. The growing importance of AI in our economy requires AI infrastructure that can power the most advanced applications at unprecedented speed. This is the Cerebras mission.”
“Our strong financial performance in Q1 highlights the large and rapidly growing opportunity in front of us,” said Bob Komin, Cerebras CFO. “We are focused on innovating at the pace of demand, supporting accelerating investments in growth and capitalization on strategic opportunities while effectively managing our capital structure.”
Founded in 2015, Cerebras raised more than $6 billion in its IPO, the highest amount for a U.S. tech company since Uber’s debut in 2019.
By CEO NA Editorial Staff
