Cerebras raises 2026 forecast after quarterly revenue beat

Cerebras Systems raised its 2026 core-revenue forecast after third-quarter core revenue beat analysts’ expectations, while its net loss under standard accounting rules widened. Chief Executive Andrew Feldman also said the company had signed Microsoft as a cloud customer, with revenue from the agreement expected to begin in the first quarter of 2027. Its financial terms were not disclosed.

The chipmaker now expects core revenue of $940 million to $960 million in 2026, up from its previous forecast of $880 million to $890 million. Core revenue, the company’s adjusted measure, reached $230.9 million in the three months ended September 30, a 70% increase from a year earlier and above the $214.7 million analysts expected. Cerebras forecast fourth-quarter core revenue of $310 million to $330 million.

Revenue reported under generally accepted accounting principles rose 55% to $210.8 million. Cerebras posted $29.8 million in core net income, compared with a $10.9 million core net loss a year earlier. Its GAAP net loss, however, widened to $161.2 million from $22.2 million. The company’s adjusted measures exclude specified costs and accounting items, so they differ from its GAAP results.