Cerebras shares jump 17% on upbeat annual forecast, easing AI jitters
CBRS•Cerebras raised its 2026 adjusted revenue forecast to $940 million-$960 million from $880 million-$890 million and reported third-quarter adjusted sales up 70% to $230.9 million. Shares rose more than 17% in extended trading after the company also said it had signed Microsoft as a cloud customer.
1. Forecast and results
Cerebras raised its 2026 adjusted revenue forecast to $940 million-$960 million, from its previous expectation of $880 million-$890 million. Third-quarter adjusted sales rose 70% to $230.9 million, above analysts’ average estimate of $214.70 million, while adjusted profit was $29.82 million versus an adjusted loss of $10.86 million a year earlier.
2. New customer deals
CEO Andrew Feldman said Cerebras had signed a cloud deal with Microsoft, with details to be shared next year. The company’s remaining performance obligations tied to its deal to provide computing power for OpenAI stood at $26.1 billion as of September 30.
3. Capacity constraints
Adjusted cloud and services revenue, which reflects the OpenAI deal, more than tripled to $144.9 million in the third quarter. Feldman said Cerebras lacked the capacity to support a broad rollout of OpenAI’s Ultrafast service tier, and that data center availability remains a constraint across the industry.
