Cerebras plummets! Hardware revenue unexpectedly declines, facing demand fluctuations on the path to "challenging Nvidia."
Cerebras Q2 revenue was $180 million, a year-on-year increase of 74%; hardware revenue was $54.1 million, a year-on-year decrease of 23%, while cloud computing service revenue reached $126 million, a year-on-year increase of 281%. Q3 core revenue is expected to be around $214 million to $216 million, with a median of $215 million, higher than the market expectation of $212 million. Cerebras' stock price fell as much as 17% in after-hours trading.
