Find XO: Inference Chip Blew Out Margins, Cerebras Warns with 47% to 38% Plunge (techcrunch.com)

- Cerebras stock dropped nearly 20% after its earnings release. - Because it lowered full-year gross margin guidance from 47% in Q1 to 38-41%. - The lack of data center space, forcing the company to rent its systems again to customers, cuts margins by 10-15 percentage points. - Even if the chips improve, physical bottlenecks like space remain. - Remove the assumption that inference costs only go down in business plans.