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Sunday, November 15, 2026

Explore Atlas by Creative Strategies

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Atlas Research NoteNov 13, 2026Ben Bajarin
Cerebras Q3 2026: More Customers, Not Enough Data Centers
Creative Strategies earnings read | November 13, 2026 | Cerebras Systems third-quarter 2026 results and conference call Cerebras reported record core revenue of $231 million, up 10% from the second quarter and 70% from a year ago, and beat the midpoint of its guide by 7% for the third quarter in a row. It raised 2026 core revenue guidance to $940 million to $960 million from $880 million to $890 million, guided fourth-quarter core revenue to $310 million to $330 million at a 47% to 49% core gross margin, and repeated that it expects revenue to triple in 2027. Microsoft became the third hyperscaler customer, after AWS and Oracle.
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Atlas Research NoteNov 13, 2026Ben Bajarin
OpenAI's Cyber Event: Daybreak Moves From Model Access to Fixing Code
Creative Strategies Atlas note | November 12, 2026 | OpenAI "Cyber at the Frontier" keynote OpenAI used its first cyber keynote to turn Daybreak from an access program into two products. Daybreak Red Team is an agent-run penetration test, and Daybreak Defense Factory finds, checks and patches vulnerabilities and hands engineers a pull request ready to merge. In September we argued that frontier labs were becoming suppliers to the defense stack and that the real bottleneck was getting fixes closed, since finding flaws was getting easier every quarter.
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Atlas Research NoteNov 13, 2026Ben Bajarin
Applied Materials Q4 FY26: A Second Vote for a $200 Billion-Plus Year, and a Supply Chain Built for More
Creative Strategies earnings read | November 13, 2026 | Applied Materials fiscal fourth quarter 2026 results and conference call, November 12, 2026 Applied Materials said wafer fab equipment grows more than 30% in 2027 and that it will outgrow the market again, and it is now building factory capacity for a much larger industry than any number it gave investors. Operating view: Applied's call was the second from a major US tool maker in three weeks to put 2027 wafer fab equipment (WFE) above $200 billion. Growth of more than 30% on a 2026 market of about $155 billion lands in the low $200 billions, the same place as Lam Research's view.
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Atlas Research NoteNov 13, 2026Ben Bajarin
Cisco Q1 FY27: The AI Number Goes to $9 Billion, and the Rest of Cisco Grows Too
Creative Strategies earnings read | November 12, 2026 | Cisco first-quarter fiscal 2027 results and conference call, November 12, 2026 Cisco grew revenue 24% to a record $18.5 billion, raised its fiscal 2027 hyperscale AI revenue target to $9 billion from $7.5 billion and raised the full-year revenue guide by $2.5 billion to $74.8 billion to $75.8 billion. Product orders grew 21%, and orders outside the hyperscalers grew 14%, on top of growth a year ago. Operating view: The AI number was the headline, but the more useful part of the quarter is that the rest of Cisco is growing at about 11% as well.
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Atlas Research NoteNov 12, 2026Ben Bajarin
Nebius Q3 2026: Customers Are Now Paying for the Build
Creative Strategies earnings read | November 12, 2026 | Nebius Group third-quarter 2026 results and conference call Nebius grew revenue 571% from a year ago to $980.8 million, including about $325 million of non-recurring revenue from its first asset-light partnership, and raised adjusted EBITDA margin to 47.5%. It narrowed its 2026 revenue guide to $3.0 billion to $3.2 billion because some colocation capacity slipped into 2027, raised 2026 capex to about $27 billion, and gave a first 2027 outlook of $12 billion to $13 billion of revenue on $40 billion to $45 billion of capex. Operating view: Prepayments were the biggest news on this call.
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Creative Strategies ResearchNov 12, 2026Carolina Milanesi
A Pair for Every Environment: Google and Samsung's Intelligent Eyewear
Preorders for Google and Samsung's intelligent eyewear open today, with frames from Gentle Monster and Warby Parker and Gemini running the experience. The glasses go on sale December 10 and work with Pixel, Samsung and iOS phones. I spent time demoing them ahead of launch, and three things stood out: the breadth of
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Notes

Cerebras Q3 2026: More Customers, Not Enough Data Centers

OpenAI's Cyber Event: Daybreak Moves From Model Access to Fixing Code

Applied Materials Q4 FY26: A Second Vote for a $200 Billion-Plus Year, and a Supply Chain Built for More

Cisco Q1 FY27: The AI Number Goes to $9 Billion, and the Rest of Cisco Grows Too

Nebius Q3 2026: Customers Are Now Paying for the Build

A Pair for Every Environment: Google and Samsung's Intelligent Eyewear

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