Cerebras Raises 2026 Outlook as OpenAI Deal Drives AI Cloud Growth

Cerebras Systems raised its full-year outlook as rapidly growing demand for artificial-intelligence inference and cloud computing pushed the Nvidia challenger to another quarter of strong expansion. The company now expects 2026 adjusted revenue of approximately $880 million to $890 million, up from its previous forecast of $855 million to $865 million. Cerebras also raised its adjusted gross-margin outlook to between 41% and 43%. Second-quarter sales increased 74.3% year over year to approximately $180.1 million, while the company's adjusted loss narrowed significantly. Core cloud-and-services revenue nearly quadrupled to roughly $127.7 million. A major component of Cerebras' growth strategy is its multiyear agreement to supply OpenAI with computing capacity, a deal valued at more than $20 billion. The relationship gives Cerebras a potentially important anchor customer as it tries to establish its wafer-scale architecture as an alternative to conventional GPU-based AI infrastructure. Investors remain demanding, however. Cerebras shares fell sharply in after-hours trading despite the higher guidance, underscoring how much future growth may already be reflected in expectations for the newly public AI-chip company.