Cerebras Drops 11% as Q2 Core Gross Margin Guided to 36-38%

Cerebras Systems fell about 11% in after-hours trading on Wednesday after the AI chipmaker's first earnings report since its May IPO guided to a sharply lower core gross margin for the second quarter. Revenue climbed 92% year-over-year to $193.4 million, and the company's adjusted net loss of $2.5…