Variety.com said the filmmakers are looking for a U.S. distributor for the epic, which runs 258 minutes. The film stars Oscar-winning actor Benicio Del Toro as the iconic South American revolutionary.
An intermission was offered to audience members in between screenings of "The Argentine" and "Guerrilla" at Cannes Wednesday.
"Even though we've made two parts we still haven't shown everything," Variety.com quoted Soderbergh as saying before the premiere. "There's actually another movie, I think, to be made about what happens between these two parts but we didn't have enough money."
The trade paper said Soderbergh is resisting pressure to edit the films into a single, easier-to-market feature.
"The process of editing was intense," Soderbergh told Variety.com Thursday. "The further you get into it, you need context. That's why you need two movies."