Overview
- Cerebras announced a phased AI campus in Mikkeli, Finland with Compute Nordic Finland that is planned to scale to 165 megawatts of IT capacity and has seven-year service contracts backing customer orders.
- Construction has begun on the initial 50 MW stage of the Mikkeli project and service orders for that phase are already secured under multi-year contracts.
- The company reported Q2 core revenue of $209.9 million, a roughly 74% year-over-year rise that beat estimates, and raised full-year core guidance to $880–$890 million.
- Cerebras says it carries $25.4 billion in remaining performance obligations and references a disclosed 750 MW OpenAI agreement as part of its effort to convert contracts into managed, recurring revenue.
- Analysts pushed the stock up about 12% on Friday and kept a Strong Buy consensus, but the plan depends on capital-heavy datacenter builds, high power and cooling needs, and tight execution to protect margins and deliver on backlog.