Cerebras secures Microsoft as third major cloud client, reports $26.1 billion remaining obligations

Cerebras, the wafer-scale AI chip company, announced during its Q3 2026 earnings call that it has signed an agreement with Microsoft, marking the company's third major hyperscale cloud client following AWS and Oracle. For the third quarter of 2026, Cerebras reported total core revenue of approximately $230 million, representing a 20% year-over-year increase. Revenue from cloud services and other sources reached $145 million, surging by 272%. Looking ahead, the company projects full-year 2026 core revenue to fall between $940 million and $960 million, with core gross margin expected to be 42% to 44% and core operating margin between 8% and 10%. As of September 30, 2026, the company maintains remaining performance obligations totaling $26.1 billion and has secured commitments to deliver 700MW of data center capacity by 2027.