US Stock Market Move | Q3 results beat expectations, Cerebras (CBRS.US) surges over 12% in premarket trading.

On Friday, Cerebras (CBRS.US) surged over 12% in premarket trading and is now at $110.26. On the news front, AI chip company Cerebras reported third-quarter results that beat market expectations, with cloud business revenue becoming the core growth engine. The company not only raised its full-year 2026 revenue guidance but also expects 2027 revenue to reach three times this year's level, indicating optimism about the growth prospects for AI inference computing demand. On November 12 local time, Cerebras released its third-quarter 2026 financial report. Core revenue for the quarter reached $230.9 million, up 70% year over year, above the analysts' average estimate of $214.7 million; among that, cloud and other services revenue rose 272% year over year to $144.9 million. Driven by customer demand for its cloud business, Cerebras raised its full-year 2026 core revenue guidance to $940 million to $960 million from the previous $880 million to $890 million. The company also expects fourth-quarter core revenue to reach $310 million to $330 million, with core gross margin rising to 47% to 49%. In terms of order backlog, as of September 30, Cerebras' remaining performance obligations (RPO) reached $26.1 billion. The company also disclosed that it has contracted 700 megawatts of data center capacity, planned for delivery by the end of 2027.