Movement Alert｜Cerebras Systems Falls 8.6% in Regular Trading, Full-Year Guidance Disappoints Despite OpenAI Deal

Market Focus06-24 21:33

On June 24, Cerebras Systems declined 8.6% in regular trading, trading at $200.65/share with turnover of $494 million, as investors digested the company's first-ever earnings report and underwhelming annual guidance.

The AI chip maker projected full-year revenue of $855 million to $865 million, representing approximately 69% year-over-year growth. While this exceeded analysts' average estimate of $824.8 million, the magnitude of growth fell short of market expectations for a company positioned to capture significant share of the AI data center market. Additionally, the company indicated full-year profit margins would decline below first-quarter levels, further pressuring the stock.

The weak guidance overshadowed a major multi-year agreement with OpenAI, under which OpenAI will deploy 750 megawatts of Cerebras high-speed inference systems over the coming years, a deal valued at over $20 billion. Since its IPO debut at $185 in May, the stock had previously climbed as high as $311.07 before retreating sharply following the earnings release.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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