Cerebras posts record revenue, discloses Microsoft cloud deal and expects to triple sales in 2027

Cerebras Systems reported record third quarter revenue of $210.8 million, up 55% from a year earlier, and said it expects to triple revenue in 2027, according to its results release. Core revenue, which excludes items such as warrant amortization and data center pass-through revenue, rose 70% to $230.9 million, and core revenue from its cloud and services business grew 272% to $144.9 million.

Cerebras said it signed a cloud deal with "a top three hyperscaler." Chief executive Andrew Feldman told CNBC the partner is Microsoft, which signed in October, and that he expects revenue from it to begin in the first quarter of 2027.

For the fourth quarter, Cerebras expects core revenue of $310 million to $330 million and a core gross margin of 47% to 49%, above the LSEG analyst estimates of $271 million and 42.1% cited by CNBC. The company reported $26.1 billion in remaining performance obligations and 700 megawatts of data center capacity secured for delivery by the end of 2027, including new contracts in Norway and Finland. Oracle will offer Cerebras inference in Oracle Cloud Infrastructure in 2027. Shares rose after the results, CNBC reported.