Cerebras, an AI chipmaker, reports revenue of $193.4 million, up 92% year-on-year

TechFlow News, June 24: According to CoinDesk, AI chipmaker Cerebras released its first public financial report following its IPO. First-quarter revenue totaled $193.4 million, up 92% year-on-year; adjusted net loss was $2.5 million—significantly better than analysts’ expectation of a $36.75 million loss.

However, the company guided for a core gross margin of 36%–38% in Q2, down from 46.5% in Q1, raising investor concerns about profitability. Cerebras completed its $6 billion IPO in May at $185 per share; its stock price surged to $385 shortly after listing and closed at $201.55 in after-hours trading—a 11% decline from the previous day’s close. The company’s Q2 revenue guidance stands at $194 million.