Cerebras raises FY2026 outlook as Q2 revenue grows 103%

Transcript intelligence

What changed

Cerebras reported record Q2 FY2026 core revenue of $209.9 million, raised FY2026 guidance, and described a more than $25 billion signed-contract pipeline. Compared with the prior quarter, management placed greater emphasis on scaling manufacturing and data-center capacity and on disaggregated inference with AMD and AWS.

Guidance delta

Management raised FY2026 revenue guidance to $880-$890 million and improved its margin outlook.

Key takeaways

• Q2 core revenue reached $209.9 million, up 103% year over year, while cloud revenue rose 287%.
• Management cited more than $25 billion of signed-contract pipeline and plans to expand manufacturing and data-center capacity.
• The disaggregated-inference strategy with AMD and AWS is intended to improve throughput and broaden Cerebras' addressable use cases.
• The growth plan remains dependent on executing capacity expansion and converting large customer and partner commitments.

Management priorities

• Expand worldwide data-center capacity, including more than 600 megawatts secured for delivery by the end of 2027.
• Increase manufacturing capacity by more than 10 times in 2026 and again in 2027.
• Launch CS4 and advance the CS5 roadmap.
• Deploy disaggregated inference with AMD Helios and AWS Trainium, followed by Cerebras inference on AWS Bedrock.