Cerebras stock jumps 17% after signing a Microsoft deal
Cerebras Systems, the chip maker challenging Nvidia, reported stronger revenue and announced a new relationship with Microsoft.
Cerebras Systems reported better-than-expected financial results and announced a new deal with Microsoft, according to CNBC. The stock rose 17% after the market closed following the earnings report on Thursday. Core revenue grew 70% from $135.7 million, compared with 103% growth in the second quarter.
Andrew Feldman, the head of Cerebras, said in an interview that Microsoft signed the agreement in October, and revenue begins to show up in the first quarter of 2027. The company also landed deals with Amazon and Oracle. For the fourth quarter, Cerebras expects $310 million to $330 million in revenue, beating what analysts polled by LSEG were looking for.
The company expects revenue to triple in 2027, implying about $2.85 billion in revenue. Cerebras shares have slumped by about 47% since the company debuted on the Nasdaq stock exchange in May.
About Microsoft
American multinational technology corporation
- Share price
- $523.88+0.17% last trading day
- Market value
- $3.9 trillion2026
- Revenue
- $332 billiona year, 2026
- Employees
- 228,0002024
- Founded
- 1975by Bill Gates
- Based in
- Redmond
- Chief executive
- Satya Nadella
- Owned by
- ShareholdersNasdaq: MSFT
From Wikipedia and Yahoo Finance. Figures can be a year or two old.
Figures as reported by CNBC.
