Cerebras stock jumps 23% on surprise profit, forecast hike, easing AI spending worries
Shares of Cerebras Systems surged 23% on Friday after the artificial intelligence (AI) chipmaker raised its annual revenue forecast and reported an unexpected quarterly profit, signalling growing momentum…
Attributed summary
Shares of Cerebras Systems surged 23% on Friday after the artificial intelligence (AI) chipmaker raised its annual revenue forecast and reported an unexpected quarterly profit, signalling growing momentum in its challenge to Nvidia in the AI chip market, according to a Reuters report.Cerebras shares jumped 23.21% to $120.44 at the opening bell before paring gains.The rally could add more than $3 billion to the company's market capitalisation if the gains…
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