AI chip manufacturer Cerebras' stock price drops 11% after releasing its first public financial report

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ME News update: June 24 (UTC+8). After listing, AI chip manufacturer Cerebras Systems, in its first quarterly report, expects its next quarter’s core gross margin to fall to 36%-38%, below this quarter’s 46.5%. The stock price dropped 11% after hours. Q1 revenue increased 92% year-over-year to $193.4 million. The adjusted net loss was $2.5 million, better than analysts’ expected loss of $36.75 million. Cerebras raised $6 billion in its IPO in May at $185 per share; after the stock price surged to $385, it later pulled back, with the after-hours trading price at $201.55. (Source: PANews)
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