** Shares of chip designer Cerebras Systems CBRS.O fall 7.8% to $209.70 in extended trading

** CBRS reports $193.4 million revenue for Q1, compared with $99.5 million reported in the same period a year ago

** Co says it expects fiscal 2026 rev to be $855 million to $865 million, up 69% Y/Y at the midpoint

** CBRS is focused on inference, the process by which AI systems respond to user queries, and has tied much of its growth to OpenAI, including a $20 billion multi-year deal under which the ChatGPT creator will deploy 750 megawatts of Cerebras chips