According to Cerebras' November 12 earnings release, CBRS shares surged 17% in extended trading after the company announced a Microsoft cloud agreement, raised its 2026 revenue guidance, and disclosed $26.1 billion in remaining performance obligations. Third-quarter core revenue reached $230.9 million, up 70% year-over-year, while cloud and services revenue surged 272% to $144.9 million.

Microsoft emerged as a new hyperscale customer alongside Cerebras' OpenAI partnership. The company raised its full-year core revenue forecast to $940 million–$960 million from its previous $880 million–$890 million range, with expectations to triple revenue in 2027 pending data-center capacity completion.

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