Cerebras CBRS Dips After Mixed Q2 as Cloud Revenue Surges

Cerebras Systems (CBRS) posted Q2 revenue of $180.1M, up 74% year over year, but hardware sales slipped to $54.1M amid lumpy demand and data-center space constraints while its cloud-services revenue jumped to $126M. The company swung to a net loss of $450.5M largely due to $386.6M in stock-based compensation. Cerebras raised its 2026 core revenue guidance to $214–216M and now sees full-year revenue of $880–890M, with a plan to more than triple revenue in 2027 as production scales; the market reacted with about a 15% after-hours drop as investors weigh the mix of cloud momentum against hardware headwinds, and the company continues to push against Nvidia with partnerships and OpenAI integration for its Wafer-Scale Engine.