Cerebras (CBRS) Stock: Can This Nvidia Rival Keep Its Momentum Going?
TLDR
- Cerebras reported Q2 core revenue of $209.9 million, up 103% year over year
- GAAP cloud revenue jumped 281% to $126 million in the quarter
- The company signed a multiyear OpenAI deal worth more than $20 billion
- Full-year core revenue guidance raised to $880 million to $890 million
- Wall Street holds a Moderate Buy consensus with an average price target of $299.90 vs. a recent price around $191
Cerebras Systems posted Q2 core revenue of $209.9 million, a 103% increase from the same period last year. Cloud and services revenue was the standout, with GAAP cloud revenue rising 281% to $126 million.
The company is shifting from hardware sales toward recurring cloud access, which generally makes revenue more predictable. That transition appears to be gaining traction.
Management lifted full-year core revenue guidance to between $880 million and $890 million. The company also said it expects revenue to more than triple in 2027.
Remaining performance obligations finished the quarter at $25.4 billion, which provides a clearer picture of future revenue if those commitments hold.
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