Cerebras, Cisco fall after failing to meet sky-high AI expectations

Shares in both Cerebras Systems and Cisco fell after the bell on Wednesday, with the companies reporting earnings that failed to match lofty AI expectations. Cerebras’ share price slumped by around 16% following a miss on sales, with revenue forecasts for the current quarter falling short, while Cisco’s beat on the top and bottom line was not strong enough to stop it from coming under pressure.