Cerebras Stock Plummets, CEO Says Market Misunderstood Gross Margin Outlook
AI News Flash: AI chip startup Cerebras Systems released its first quarterly report since going public on Tuesday, with revenue hitting $193 million, up 94% YoY; net loss narrowed from $23.9 million in the same period last year to $14 million, with all metrics beating market expectations. However, the stock fell nearly 20% the next day, briefly approaching the IPO price, hitting a new low since listing. The key drag on the stock was…