Cerebras Systems just had a big day: its stock shot up 13% after the company beat revenue expectations and revealed a new partnership with Microsoft.
For the third quarter, Cerebras pulled in $230.9 million (way above the $214.7 million analysts expected), even though it still reported a loss per share.
Cerebras forecasts Q4 revenue $310 million-$330 million
Cerebras's revenue grew 70% from last year, though not as fast as last quarter.
Looking ahead, it expects even higher revenue for the fourth quarter (between $310 million and $330 million) and better profit margins than Wall Street predicted.
Plus, fresh deals with Amazon and Oracle are helping Cerebras compete with NVIDIA in AI chips, with hopes to triple its revenue by 2027 as it keeps expanding in the booming AI space.