Surging AI chip revenue and Microsoft deal boost Cerebras Systems’s stock by 17%
Quarterly revenue tops expectations as the chipmaker reports a Microsoft agreement
Artificial intelligence chipmaker Cerebras Systems Inc. delivered third-quarter revenue that comfortably beat expectations in its latest financial report today while announcing a new deal with Microsoft Corp., sending its stock up more than 17% in late trading. The company reported a loss before certain costs such as stock compensation of 67 cents per share, trailing […] The post Surging AI chip revenue and Microsoft deal boost Cerebras Systems’s stock by 17% appeared first on SiliconANGLE.
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Cerebras’ stronger-than-expected quarterly revenue and Microsoft deal coincided with a sharp rise in its share price. The reported per-share loss shows the results were not uniformly positive.
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