moneyheap
CBRS +6.56% today · Analysis updated Nov 13, 2026, 10:34 AM ET
Why is Cerebras Systems Inc. (CBRS) stock up today?
Cerebras reported third-quarter results after the close on November 12. Core revenue (its preferred measure) rose 70% to $230.9 million, above the $214.7 million analysts expected, and it posted adjusted earnings of 12 cents a share against an expected loss. Cloud revenue grew 272% to $144.9 million. It guided fourth-quarter core revenue to $310-330 million, well above the roughly $271 million expected, raised its 2026 range to $940-960 million and repeated that it expects revenue to triple in 2027. It also signed a cloud deal with Microsoft, its third hyperscale customer in six months. On the call it said capacity for its largest customer, OpenAI, is running behind schedule. By about 10:26 AM ET the stock was up about 7% at $104.16, after trading as high as $120.44.
News behind the analysis
- Cerebras Systems (CBRS) Q3 earnings report 2026Core revenue $230.9 million versus $214.7 million expected; Q4 guide $310-330 million versus $271 million expected; new Microsoft deal.
- Cerebras Q3 2026 earnings beat, Microsoft deal lift stock about 16%Full-year core revenue guide raised to $940-960 million; GAAP net loss of $161.2 million; cloud revenue +272%.
- Cerebras (CBRS) Q3 2026 Earnings Call TranscriptFirst core profit; three hyperscalers in six months; running behind schedule on initial OpenAI tranches, with under 5% of committed capacity cancellable.
- Cerebras Stock (CBRS) Rallies on Strong Q3 Beat and Microsoft DealAnalyst notes the OpenAI capacity delay leads to flat Q4 cloud revenue guidance; consensus Strong Buy before the report.
- Stock market today: S&P 500, Nasdaq turn lower as wholesale inflation rises, Nvidia stock fallsCerebras jumped in premarket trading after record revenue and a raised outlook while chip stocks fell.
About Cerebras Systems Inc. Class A Common Stock
Cerebras Systems designs AI processors and sells access to them. It went public on Nasdaq in May 2026 at $185 per share. What sets it apart is its wafer-scale engine, a single chip about the size of a whole silicon wafer that is built to train and run large AI models very fast.
How it makes money
Cerebras sells AI computing systems built on its wafer-scale chips. It also rents out that computing power over the cloud, mostly for running AI models (called inference). Revenue for 2025 was roughly $510 million, up about 76% from the year before. A few large customers bring in a big share of sales. In the past that was mainly a UAE-linked customer, and now it increasingly includes OpenAI, which also lent Cerebras about $1 billion and holds a warrant to buy its stock. The company reported about $24.6 billion in contracted future revenue (remaining performance obligations) at the end of 2025. It expects to recognise only about 15% of that amount during 2026 and 2027.
What usually moves CBRS
- AI inference and data-center spending
- Reliance on a few big customers such as OpenAI
- Competition from Nvidia and custom AI chips
- Lock-up expirations and swings typical of a new IPO
- Chip supply and export rules
Similar companies
In the Daily Standout
- November 13, 2026: on the shortlist +6.56%