Descriptions:
Bloomberg Technology interviews Cerebras CEO Andrew Feldman the day after the company’s Q2 earnings release, during which shares dropped 13.4%. Feldman explains the two-part structure of Cerebras’s business: a first-party cloud where the company designs, manufactures, and operates its own data centers and rents compute to customers (up 281% year-over-year), and a hardware sales division where Cerebras sells AI chips to customers who deploy them on-premise or resell compute capacity. The hardware segment showed weaker reported revenue due to some customers lacking ready data center capacity to receive deliveries, but Feldman frames this as a timing issue rather than a demand problem.
On a GAAP basis, revenue appeared smaller than core figures because warrant obligations from one large hardware customer are subtracted under accounting rules — a distinction Feldman walks through explicitly. The company reported $25.4 billion in backlog and 600 megawatts of live or signed capacity, with a pipeline of additional gigawatts. Manufacturing partnerships with Flextronics, Sanmina, and Rocket Arms are set to expand capacity more than tenfold this year, with TSMC confirmed as the fab partner supporting that growth.
Feldman addresses guidance directly: Cerebras expects revenue to more than triple in the following year, with raised outlook for 2027 and 2028. He also acknowledges that lock-up expiry following the IPO is contributing to near-term share price pressure, distinguishing those sellers from the company’s core investor base. Hyperscale customers including AWS and frontier labs including OpenAI are now live Cerebras cloud customers.
📺 Source: Bloomberg Tech · Published August 13, 2026
🏷️ Format: Interview
