AI Chip Firm Cerebras Reports Record Q3 Revenue of $210.8 Million, Raises Full-Year Outlook
Cerebras' Q3 GAAP revenue rose 55% year-over-year, driven by surging cloud demand, as the company secures 700 megawatts of data center capacity.
US-based AI infrastructure company Cerebras Systems (Nasdaq: CBRS) released its financial results for the third quarter ended September 30, 2026, on November 12. The report shows record GAAP total revenue of $210.8 million, up 55% year-over-year. Cloud and other services revenue reached $141.9 million, a 265% increase from the same period last year. Core revenue, which excludes non-cash items like customer warrant amortization, stood at $230.9 million, growing 70% year-over-year.
Despite strong top-line growth, Cerebras remained deeply unprofitable on a GAAP basis, reporting a net loss of $161.2 million and an operating margin of -106%. However, the company maintains a robust liquidity position with $7.8 billion in cash, cash equivalents, restricted cash, and short-term investments, which management states will support its aggressive expansion plans.
On the business front, Cerebras announced commercial wins with two new hyperscalers, including an integration deal with Oracle Cloud Infrastructure expected to go live in 2027. The company has also secured contracts for 700 megawatts of data center capacity for delivery by the end of 2027, positioning itself as one of the largest non-hyperscaler AI clouds.
Based on current pipeline strength and capacity expansion, Cerebras raised its full-year 2026 financial outlook. The company now expects core revenue between $940 million and $960 million, with gross margins in the 42%-44% range. CEO Andrew Feldman projected that revenue would triple in 2027, supported by the production ramp-up of its next-generation CS-4 systems and the development of the upcoming CS-5.