Cerebras revenue climbs 55% in Q3 2026 but lands below Wall Street estimates
AI chipmaker Cerebras Systems reported third-quarter 2026 revenue of $210.8 million, up 55% year-over-year but below Wall Street expectations.
The company's core revenue, a separate metric it tracks, reached $230.9 million for the quarter, setting a new company record with a 70% year-over-year increase.
Cloud surge drives growth
The standout performance came from Cerebras' cloud segment, which generated $141.9 million in GAAP revenue—a 265% increase from the previous year. This segment now accounts for roughly two-thirds of the company's total revenue, reflecting strong demand for its AI inference products from hyperscalers.
Raised guidance despite miss
Despite the revenue shortfall, Cerebras did not lower its expectations. Instead, the company raised its full-year 2026 core revenue guidance, projecting $310 million to $330 million for the fourth quarter. Cerebras has also secured 700 MW of data center capacity under contract and recently announced collaborations with Oracle and Bilt.
Market position
Founded by CEO Andrew Feldman, who previously held executive roles at SeaMicro and AMD, Cerebras went public on May 14, 2026, at an IPO price of $185 per share, raising approximately $6.38 billion. The company trades on the Nasdaq under the ticker CBRS. The next checkpoint will be its fourth-quarter performance against its $310 million to $330 million core revenue target.
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