Cerebras Systems' first quarter 2026 revenue surged 94% while landing a landmark $20B+ OpenAI deal.

Cerebras Systems reported first quarter 2026 GAAP revenue of $193.4 million, a 94% increase year-over-year, and a GAAP net loss per share of $0.22. The company's core revenue, which excludes certain items, grew 92% to $191.3 million, demonstrating significant business momentum in its first report as a public company.

Key Highlights

• A new multi-year deal was announced with OpenAI, valued at more than $20 billion, to deploy 750 megawatts of Cerebras' inference compute.
• Cloud and other services revenue was a key growth driver, increasing 178% year-over-year to $82.8 million.
• The company raised its full-year 2026 core revenue guidance to a range of $855.0 million to $865.0 million, representing 69% growth at the midpoint.