Cerebras Systems fell after hours after reporting lower hardware revenue. According to Sina Finance, the company said hardware sales fell 23% year over year to $54.1 million, while its cloud business revenue nearly tripled to $126 million. The report left investors with mixed results. Since its May initial public offering, Cerebras shares have risen 42%. The company has positioned itself as a challenger to Nvidia in AI chips, but its largest revenue source is now cloud computing. Cerebras shares fell about 14% after the results were announced.