Cerebras Systems Inc. (NASDAQ:CBRS) shares are trending on Friday.
Shares of the Californian artificial intelligence infrastructure and semiconductor company jumped 19.39% to $116.70 in pre-market trading on Friday, following the release of third-quarter results and a raised full-year revenue outlook.
Q3 Earnings Miss Estimates, But FY26 Revenue Outlook Gets a Boost
On Thursday, Cerebras reported a third-quarter loss of 67 cents per share, wider than the analyst estimate of a 14-cent loss, missing expectations by 378.6%.
GAAP revenue came in at $210.8 million, slightly below the $214.93 million estimate. However, the company’s adjusted core revenue reached $230.9 million, beating the $214.7 million LSEG consensus estimate, per Reuters.
The positive sentiment around the stock appears to be driven by the company raising its fiscal 2026 revenue forecast to between $940 million and $960 million.
Microsoft Deal Adds to Investor Optimism
According to a CNBC report, Cerebras CEO Andrew Feldman confirmed that Microsoft (NASDAQ:MSFT) signed a cloud computing agreement with the company in October. Revenue from the deal is expected to begin contributing in the first quarter of 2027, Feldman said.
The agreement adds Microsoft to Cerebras’ growing roster of major cloud customers, which also includes Amazon (NASDAQ:AMZN) and Oracle (NYSE:ORCL).
Trading Metrics, Technical Analysis
Cerebras has a market capitalization of $23.22 billion, a 52-week high of $386.34 and a 52-week low of $77.84.
The Relative Strength Index (RSI) of CBRS stands at 37.11.
The stock has fallen 72.07% over the past 12 months.
Price Action: On Thursday, CBRS stock closed at $97.75, down 3.29%, according to Benzinga Pro data.
See More: Top Value Stocks
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock