Surging AI chip revenue and Microsoft deal boost Cerebras Systems stock by 17%

Surging AI chip revenue and Microsoft deal boost Cerebras Systems stock by 17%

Artificial intelligence chipmaker Cerebras Systems Inc. delivered third-quarter revenue that comfortably beat expectations in its latest financial report today while announcing a new deal with Microsoft Corp., sending its stock up almost 18% in late trading.

The company reported a loss before certain costs such as stock compensation of 67 cents per…