AI chipmaker Cerebras down 11% after first public earnings report (opens original article in a new tab)

Cerebras Systems' stock fell 11% following its first public earnings report, with lower-than-expected gross margin guidance for the next quarter.

• Cerebras Systems' stock dropped 11% in after-hours trading after its first public earnings report
• First-quarter revenue reached $193.4 million, doubling from the previous year's level
• Cerebras guided to lower gross margins for the second quarter compared to the first