Cerebras stock plunges after earnings as CEO says margin outlook was misunderstood
In its first earnings report since going public, the AI chipmaker forecast a narrower gross margin in its core business, scaring investors.
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In Brief Posted: 3:41 PM PDT · June 24, 2026 Image Credits:Pavlo Gonchar/SOPA Images/LightRocket / Getty Images Aisha Malik Cerebras stock plunges after earnings as CEO says margin outlook was misunderstood Shares of Cerebras Systems dropped almost 20% on Wednesday, even after the company delivered better-than-expected first-quarter earnings on Tuesday. That’s because in its first earnings report since going public, the AI chipmaker forecast a narrower gross margin in its core business, guiding for a full-year margin of 38% to 41%, compared with the 47% reported in the first quarter. The stock hit a new low on Wednesday, almost hitting the company’s IPO price.
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