Quarterly ResultJun 23, 2026, 05:00 PM
Cerebras Secures $20B OpenAI Deal; Q1 Revenue $193.4M, IPO Raises $6.4B
AI Summary
Cerebras Systems Inc. reported a strong start to 2026, announcing a multi-year deal with OpenAI valued at over $20 billion for 750 megawatts of high-speed inference compute. The company also launched a multi-year partnership with Amazon to integrate its fast inference technology with AWS. Financially, Cerebras raised $6.4 billion in its Q2 IPO and reported Q1 2026 GAAP revenue of $193.4 million, a 94% increase year-over-year, with a GAAP net loss of $14.0 million. The company provided a positive full-year 2026 Core revenue outlook of $855.0 million to $865.0 million.
Key Highlights
- Announced a multi-year deal with OpenAI valued at more than $20 billion for 750MW of inference compute.
- Launched a multi-year partnership with Amazon to bring Cerebras’ fast inference to AWS.
- Raised $6.4 billion in gross proceeds through its IPO in Q2 2026.
- Q1 2026 GAAP revenue was $193.4 million, up 94% year-over-year.
- Q1 2026 Core revenue was $191.3 million, up 92% year-over-year.
- Q1 2026 GAAP net loss was $14.0 million.
- Cash, cash equivalents, restricted cash, and short-term investments totaled $3.3 billion.
- Full-year fiscal 2026 Core revenue outlook is $855.0 million to $865.0 million.
Price Impact
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