Cathie Wood Invests in Cerebras Systems Following IPO
Cathie Wood’s Ark Invest has added Cerebras Systems (NASDAQ: CBRS) to its portfolios on the day of its IPO on May 14, 2023. Cerebras, which specializes in manufacturing large AI chips purported to be up to 15 times faster than standard graphics processing units, aims to disrupt the traditional semiconductor industry.
The IPO launched at $185 but opened at $350 before closing at $311. Cerebras reported revenues of $24.6 million in 2022, projected to increase to $78.7 million in 2023, $290.3 million in 2024, and $510 million in 2025. The company has secured partnerships worth over $20 billion with notable firms like OpenAI, Meta Platforms, and Amazon, marking it as a significant player in the AI chip market.
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