[Cerebras Releases First Earnings Report, Revenue Exceeds Expectations but Stock Drops 11% After Hours] According to CoinDesk, AI chip manufacturer Cerebras released its first earnings report following its IPO. First-quarter revenue reached $193.4 million, a year-over-year increase of 92%, with an adjusted net loss of $2.5 million, better than analysts' expected loss of $36.75 million. Cerebras projected a core gross margin of 36%-38% for the second quarter, lower than the first quarter's 46.5%, and provided second-quarter revenue guidance of $194 million. Cerebras completed its $6 billion IPO in May at $185 per share, with the stock price once rising to $385. In after-hours trading, the stock was priced at $201.55, down 11% compared to the previous day's closing price.