On June 23, Cerebras Systems fell 5.26% in after-hours trading, trading at 214.1 USD/share, with turnover of approximately $57.11 million.

On the news front, the company released its first quarterly earnings report since its IPO after market close. Cerebras disclosed a second-quarter core revenue outlook of approximately $194 million, representing 88% year-over-year growth, with core gross margin projected at 36% to 38%. Despite robust revenue growth and positive ratings from multiple investment banks — including Citi with a $340 target, UBS at $300, and Morgan Stanley at $250 — the 36%-38% gross margin level significantly trails industry leader NVIDIA. Market concerns over the company's AI chip commercialization profitability crystallized upon the earnings release, triggering accelerated profit-taking as investors sold on the news.

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