On August 14, Cerebras Systems declined 3.39% in regular trading, trading at $223.09/share with turnover of $727 million, extending losses after the prior session's nearly 12% drop following disappointing Q2 results.

The ongoing weakness stems from the company's Q2 earnings report released after market close on August 12, which showed revenue of $180.1 million — below the consensus estimate of approximately $190.6 million. Adjusted EPS came in at a loss of $2.98, significantly worse than the expected loss of $1.41. Hardware revenue fell 23% year-over-year to $54.1 million, serving as the primary drag on top-line performance, while cloud services revenue surged 281% to $126 million.

Despite the company raising full-year revenue guidance to $880-$890 million and announcing it is powering OpenAI's GPT-5.6 Sol Ultrafast Mode with speeds up to 14 times faster than standard processing, profit-taking pressure continued as investors digested the magnitude of the earnings shortfall. Citi lowered its price target from $340 to $320, while Morgan Stanley raised its target modestly from $273 to $279, maintaining an Overweight rating.

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