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The AI chip company beat earnings estimates and lifted its 2026 revenue outlook, but shares fell sharply in extended trading
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Cerebras Systems (NASDAQ: CBRS) reported second-quarter results on Wednesday that beat Wall Street estimates on multiple metrics, but the company's stock fell roughly 17% in after-hours trading.
Core revenue for the quarter reached $210 million, more than double the same period a year ago. GAAP total revenue was $180 million. Analyst expectations for core revenue were $191 million and for GAAP revenue were $194 million, according to CNBC.
