Cerebras (NASDAQ:CBRS) holds $25.4 billion in contracted future revenue, yet its shares fell to a post-IPO low amid worries about Nvidia competition and early insider shares coming out of lockup. Second-quarter core revenue rose 103% to $209.9 million, while GAAP revenue rose 74% to $180.1 million. GAAP cloud and services revenue jumped 281% to $126.0 million, while GAAP hardware revenue fell to $54.1 million from $70.3 million. Management raised its full-year core revenue outlook to $880 million to $890 million and reported a core gross margin of 40.6%. The article warns that significant customers including OpenAI, G42, Mohamed bin Zayed University of AI and AWS mean one purchasing decision could significantly affect the thesis.
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