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Cerebras data centers are behind schedule, with credits and cancellation rights, CEO says
Andrew Feldman told CNBC's Squawk on the Street that nothing has been cancelled, and that Cerebras customers serving fast AI inference can charge a premium he says is expanding.
Check our sources · 14 facts from 3 sources
Video: CNBC Television on YouTube
Key points
- Feldman says "we are behind schedule and that is a challenge to our partners" (02:18), and, asked about OpenAI, that data centers are "delayed across the industry" (01:52).
- He says the contract permits service credits if Cerebras is late, and if it is "super late" both sides can cancel tranches; "nothing's been cancelled at this time" (02:28).
- He says Cerebras customers who deliver fast inference to users "they’re able to charge more when it’s fast and that premium is expanding" (01:09).
What happened
Cerebras chief executive Andrew Feldman says the company's data center builds are late, and that its contracts let customers collect service credits and, if it is "super late", cancel tranches of capacity. Nothing has been cancelled at this time, he says. He spoke in an interview on CNBC's Squawk on the Street, published on CNBC Television's YouTube channel on 13 November.
Asked about OpenAI and the delays, Feldman says data centers are "delayed across the industry" and that Cerebras is no exception. He says Cerebras has the same relationship with its own data center builders.
Feldman also says the market for fast inference is paying more. In his words, customers who deliver fast inference to users "they’re able to charge more when it’s fast and that premium is expanding". He says Cerebras added three hyperscalers in six months, naming AWS, Oracle and Microsoft, and that this will show in its numbers next year. Asked for detail on Microsoft he says he cannot give any yet.
The interview followed Cerebras' third-quarter release of 12 November. It reported GAAP revenue of $210.8 million, up 55% from a year earlier, and said it secured 700 gross megawatts of data center capacity for delivery by the end of 2027.
What it means for you
Our viewIf you rely on Cerebras capacity, or on a vendor that does, the contract terms Feldman describes are what matter: service credits for lateness and cancellation rights if delivery is very late.
Cerebras's 12 November release does not mention delays or service credits, so those terms rest on the interview alone, and Feldman says nothing has been cancelled. His point that customers can charge more for fast inference is a view from the seller of that speed.
Compare any inference vendor's delivery dates with its contract terms for late capacity, and check them against the 700 gross megawatts Cerebras says it secured for delivery by the end of 2027.
It adds no new facts.
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Check our sources
Every sentence above is checked against these 3 sources.
1 Cerebras CEO Andrew Feldman on data centers: "We are behind schedule" on builds
Open the source archived copy-
Andrew Feldman says of Cerebras' data centers "we are behind schedule and that is a challenge to our partners" (02:18)
cite(02:16) but we are / (02:18) we are behind schedule and that is a / (02:21) challenge to our partners.
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Asked what he could say about OpenAI given delays in building data centers, Andrew Feldman says "data centers are unfortunately delayed across the industry and and we’re no exception" (01:52)
Toned down to what the source says
cite(01:45) What about OpenAI? Since we’re going / through some of the partners here and / and delay here in in building data / centers, what can you tell us for / OpenAI? (01:52) Well, I I think uh data centers are / (01:54) unfortunately delayed across the / (01:56) industry and and we’re no exception.
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Andrew Feldman says "nothing's been cancelled at this time" (02:28)
cite(02:23) Is it have they canceled any capacity? Could any of the contract be at risk from it? (02:28) Um nothing’s been cancelled at this / (02:30) time.
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Andrew Feldman says the contract "does permit if we are uh late that there be um service credits acrew", the automatic captions' rendering of service credits accrue (02:33)
cite(02:30) one of the things we we said / (02:33) on our earnings call is the the contract / (02:35) does permit if we are uh late that there / (02:39) be um service credits acrew.
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Andrew Feldman says "if we're super late, both sides have have opportunity to cancel tanches", the automatic captions' rendering of tranches, which he describes as delivery units of capacity (02:44)
cite(02:44) And if we’re super / (02:46) late, both sides have have opportunity / (02:48) to cancel tanches, which are uh delivery / (02:52) units of of capacity.
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Andrew Feldman says Cerebras has "the same relationship with our our data center builders" (02:41)
cite(02:39) We have the / (02:42) same relationship with our our data / (02:44) center builders.
-
Andrew Feldman says Cerebras customers who deliver fast inference to users "they’re able to charge more when it’s fast and that premium is expanding" (01:09)
Toned down to what the source says
cite(01:05) what we’re seeing is that that our / (01:07) customers who who who deliver this to to / (01:09) the users, they’re able to charge more / (01:12) when it’s fast and that premium is / (01:16) expanding.
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Andrew Feldman says Cerebras "added three hyperscalers over that time. So AWS, Oracle, and Microsoft", over the past six months, and that "you will see that that in our numbers next year" (01:25)
cite(01:23) Yeah, we’ve had a pretty good good / (01:25) six-month run. We we added three / (01:27) hyperscalers over that time. So AWS, / (01:31) Oracle, and Microsoft. Uh I think you / (01:35) will see that that in our numbers next / (01:38) year as those deployments roll out.
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Asked for detail on the Microsoft deal, Andrew Feldman says "We'd love to give you detail, but unfortunately we we can't at this time" (00:32)
cite(00:26) Is there any detail or granularity you can give us on it? (00:32) We’d love to give you detail, but / (00:34) unfortunately we we can’t at this time.
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The interview was a first-on-CNBC interview with Cerebras co-founder and CEO Andrew Feldman on Squawk on the Street, published on CNBC Television's YouTube channel on 13 November 2026 (00:10)
cite(00:10) Joining us this morning in a / (00:12) first on CNBC interview is Cerebra / (00:14) Systems co-founder and CEO Andrew / (00:16) Feldman. Video description: Cerebras Systems CEO Andrew Feldman joins Squawk on the Street to discuss the company’s latest earnings report, the data center buildout, and more. Channel CNBC Television, published 2026-11-13.
2 Cerebras Systems Delivers Record Revenue in Third Quarter 2026, Raises Full-Year Outlook (8-K exhibit)
Open the source archived copy-
Cerebras reported third-quarter 2026 GAAP total revenue of $210.8 million, up 55% year over year, in its release of 12 November 2026
citeSUNNYVALE, Calif. — November 12, 2026 — ... GAAP total revenue: Record $210.8 million, up 55% year-over-year
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Cerebras said in the release that it secured 700 gross megawatts of data center capacity for delivery by the end of 2027
citeSecured 700 gross megawatts of data center capacity for delivery by the end of 2027, increasing pipeline of opportunities to gigawatt scale.
-
Cerebras said in the release "Today, Cerebras announced an important cloud deal with a top three hyperscaler" and that more will be shared next year; the release does not name Microsoft or mention data center delays or service credits
citeToday, Cerebras announced an important cloud deal with a top three hyperscaler. More will be shared next year. (Searched the exhibit for Microsoft, delay and service credit: none appear.)
3 Cerebras company page: team
Open the source archived copy-
Cerebras' company page lists Andrew Feldman as Chief Executive Officer and Co-Founder
cite
Every sentence above is checked against these 3 sources. Each fact has its own address you can cite.
Source 1 · CNBC Television · 13 Nov 2026
Cerebras CEO Andrew Feldman on data centers: "We are behind schedule" on builds
Andrew Feldman says of Cerebras' data centers "we are behind schedule and that is a challenge to our partners" (02:18)
(02:16) but we are / (02:18) we are behind schedule and that is a / (02:21) challenge to our partners.
Asked what he could say about OpenAI given delays in building data centers, Andrew Feldman says "data centers are unfortunately delayed across the industry and and we’re no exception" (01:52)
Toned down to what the source says(01:45) What about OpenAI? Since we’re going / through some of the partners here and / and delay here in in building data / centers, what can you tell us for / OpenAI? (01:52) Well, I I think uh data centers are / (01:54) unfortunately delayed across the / (01:56) industry and and we’re no exception.
Andrew Feldman says "nothing's been cancelled at this time" (02:28)
(02:23) Is it have they canceled any capacity? Could any of the contract be at risk from it? (02:28) Um nothing’s been cancelled at this / (02:30) time.
Show all 10 factsShow fewer facts
Andrew Feldman says the contract "does permit if we are uh late that there be um service credits acrew", the automatic captions' rendering of service credits accrue (02:33)
(02:30) one of the things we we said / (02:33) on our earnings call is the the contract / (02:35) does permit if we are uh late that there / (02:39) be um service credits acrew.
Andrew Feldman says "if we're super late, both sides have have opportunity to cancel tanches", the automatic captions' rendering of tranches, which he describes as delivery units of capacity (02:44)
(02:44) And if we’re super / (02:46) late, both sides have have opportunity / (02:48) to cancel tanches, which are uh delivery / (02:52) units of of capacity.
Andrew Feldman says Cerebras has "the same relationship with our our data center builders" (02:41)
(02:39) We have the / (02:42) same relationship with our our data / (02:44) center builders.
Andrew Feldman says Cerebras customers who deliver fast inference to users "they’re able to charge more when it’s fast and that premium is expanding" (01:09)
Toned down to what the source says(01:05) what we’re seeing is that that our / (01:07) customers who who who deliver this to to / (01:09) the users, they’re able to charge more / (01:12) when it’s fast and that premium is / (01:16) expanding.
Andrew Feldman says Cerebras "added three hyperscalers over that time. So AWS, Oracle, and Microsoft", over the past six months, and that "you will see that that in our numbers next year" (01:25)
(01:23) Yeah, we’ve had a pretty good good / (01:25) six-month run. We we added three / (01:27) hyperscalers over that time. So AWS, / (01:31) Oracle, and Microsoft. Uh I think you / (01:35) will see that that in our numbers next / (01:38) year as those deployments roll out.
Asked for detail on the Microsoft deal, Andrew Feldman says "We'd love to give you detail, but unfortunately we we can't at this time" (00:32)
(00:26) Is there any detail or granularity you can give us on it? (00:32) We’d love to give you detail, but / (00:34) unfortunately we we can’t at this time.
The interview was a first-on-CNBC interview with Cerebras co-founder and CEO Andrew Feldman on Squawk on the Street, published on CNBC Television's YouTube channel on 13 November 2026 (00:10)
(00:10) Joining us this morning in a / (00:12) first on CNBC interview is Cerebra / (00:14) Systems co-founder and CEO Andrew / (00:16) Feldman. Video description: Cerebras Systems CEO Andrew Feldman joins Squawk on the Street to discuss the company’s latest earnings report, the data center buildout, and more. Channel CNBC Television, published 2026-11-13.
Source 2 · Cerebras Systems / SEC · 12 Nov 2026
Cerebras Systems Delivers Record Revenue in Third Quarter 2026, Raises Full-Year Outlook (8-K exhibit)
Cerebras reported third-quarter 2026 GAAP total revenue of $210.8 million, up 55% year over year, in its release of 12 November 2026
SUNNYVALE, Calif. — November 12, 2026 — ... GAAP total revenue: Record $210.8 million, up 55% year-over-year
Cerebras said in the release that it secured 700 gross megawatts of data center capacity for delivery by the end of 2027
Secured 700 gross megawatts of data center capacity for delivery by the end of 2027, increasing pipeline of opportunities to gigawatt scale.
Cerebras said in the release "Today, Cerebras announced an important cloud deal with a top three hyperscaler" and that more will be shared next year; the release does not name Microsoft or mention data center delays or service credits
Today, Cerebras announced an important cloud deal with a top three hyperscaler. More will be shared next year. (Searched the exhibit for Microsoft, delay and service credit: none appear.)
Source 3 · Cerebras Systems
Cerebras company page: team
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