Cerebras Stock Plummets 17% After Earnings, CEO Says Margin Guidance Was Misunderstood

According to CNBC, on June 23, Cerebras Systems stock fell 17% after the AI chipmaker reported its first earnings since going public, with CEO Andrew Feldman clarifying that the company's margin forecast was "misunderstood" by investors. The company projected a narrower gross margin in its core business of between 38% and 41% for the full year, compared to 47% in the first quarter. Feldman told CNBC that Cerebras is executing against its plan announced at the beginning of 2026 and beating projections, though the path may not be linear.
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