On August 13, AI chipmaker Cerebras announced its second-quarter financial results, reporting revenue of $210 million, a 103% year-over-year increase. Cloud business revenue reached $126 million, surging nearly fourfold year-over-year, while hardware sales declined 23% year-over-year to $54.1 million. The company reported a net loss of $450.5 million for the quarter, in stark contrast to the net profit of $309.5 million in the same period last year. Despite this, Cerebras raised its full-year guidance, projecting core revenue of $880 million to $890 million, exceeding previous expectations. Since its IPO in May, Cerebras shares have risen 42%, but the stock dropped over 17% in after-hours trading following the earnings release. Initially aiming to challenge Nvidia's dominance in the AI chip sector, Cerebras has now shifted its largest revenue stream to cloud computing. The company stated that its core gross margin will expand to 38%-40% this quarter, addressing investor concerns.