On August 12, Cerebras Systems fell 4.09% in after-hours trading, trading at 254.25 USD/share, with turnover of approximately $30.25 million. The decline followed the release of the company's second-quarter earnings report after the regular session close.

Earlier in the day, Cerebras Systems had surged over 7% during regular trading, driven by multiple positive catalysts including a multi-year compute contract with OpenAI valued at over $20 billion with 750 megawatts of capacity, partnerships with AMD on an integrated-chip AI inference platform, and a collaboration with CrowdStrike on inference-powered AI detection. However, the earnings release brought profitability concerns to the forefront. The company must lease high-cost external computing capacity to fulfill inference demand before its proprietary data centers become operational, causing core gross margin to decline from 46.5% in the prior quarter to an estimated 36%-38%. Estimated per-share net loss of $0.17 to $0.21 confirmed near-term earnings pressure, prompting investors who had accumulated gains during the intraday rally to lock in profits.

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