Cerebras Systems swung to a second-quarter loss but lifted its full-year outlook. The semiconductor company reported a loss of $450.5 million, compared with a profit of $309.5 million a year earlier. On a per-share basis, the loss was $2.98, versus a profit of $1.91.

Revenue rose to $180.1 million, up from $103.3 million, but missed analyst expectations of $190.6 million.\n\nShares slid 17% to $218.63 in after-hours trading. The stock, which ended the regular session up 12% at $262.06, is now down 16% from its initial closing price after going public in May.\n\nDespite the quarterly loss, management raised its full-year revenue forecast, signaling confidence in demand for its AI chips. The after-hours decline reflects disappointment with the revenue miss, even as the company's long-term outlook improved.