Wood Doubles Down on Cerebras Amid Volatility

Cathie Wood's Ark Invest is doubling down on Cerebras Systems (CBRS) stock, buying another 93,290 shares worth $17.2 million based on the reported purchase value.

This follows additional buying earlier in August and comes at a time when CBRS stock has fallen sharply from its May peak, remaining extremely volatile with a 7% decline over the past month and a 26% drop over the past three months.

Cerebras focuses on wafer-scale computing designed to deliver extremely fast AI inference, which could become increasingly important as businesses move from training AI models toward running them in real time.

The company has been expanding beyond selling AI accelerators, building an inference cloud business and working with major technology companies including OpenAI, Amazon's AWS, and Advanced Micro Devices (AMD).

Cerebras' recent unveiling of its CS-4 system claims it can deliver up to 30 times faster inference than GPU-based alternatives.