Cerebras Systems just surprised Wall Street with a $29.82 million adjusted profit this third quarter; analysts actually expected it to lose money.
The news sent Cerebras shares up 23.21% at the opening bell, jumping to $120.44.
Cerebras raises guidance to $940 million-$960 million
Cerebras is feeling confident, raising its adjusted revenue guidance to between $940 million and $960 million, way above what experts predicted.
A big boost came from its cloud business, especially thanks to OpenAI and a fresh deal with Microsoft.
Even though the stock is still below its IPO price and has been pretty up and down lately, the company says it is aiming to triple revenue in 2027 and keep pace with competitors like NVIDIA.