CEREBRAS
Is Cathie Wood betting on the next stage of the AI boom amid Wall Street’s tech stock crash, buying SpaceX and Nvidia while selling $120 million in Broadcom stock?
Cathie Wood is buying AI stocks while Wall Street is selling them. ARK Invest purchased nearly $49 million in SpaceX and $46 million in Nvidia after Thursday’s tech sell-off wiped out more than $3 trillion in US market value. But it sold $119.7 million in Broadcom and $20 million in CoreWeave. The contrasting trades raise questions about Wood’s AI strategy.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
Oracle expands chip supply deal with Nvidia, adds Google and Cerebras offerings
Oracle and Nvidia said the cloud firm will expand to "multi-gigawatt scale" with Nvidia's newest generation of "Vera Rubin" AI servers. The companies did not disclose the value of the deal, though Nvidia CEO Jensen Huang has previously said that Vera Rubin systems can generate up to $40 billion in revenue per gigawatt for the chipmaker.
Firmus $5 billion float failure deals blow to Australia's shrinking share market
Firmus has decided to scrap its ambitious $5 billion IPO, primarily due to the prevailing market volatility. This choice is a major blow to the Australian Securities Exchange, which is facing a downturn in available listings. Investors had hoped that this IPO would introduce more diversity to a market overly dependent on significant banks and miners.
Govt fast-tracks safer AI blueprint, paper on regulation out in a month
Speaking at a World Bank group event, Vaishnaw said the paper will be released in one month, and will focus on AI safety, humanity, skilling, inclusivity, and mitigation of harms such as deepfakes from AI.
US stocks: Nasdaq gains 1% at close as investors focus on earnings
The Nasdaq Composite has hit an all-time high, driven by impressive performances from tech giants Nvidia and Microsoft. In contrast, oil prices have dipped, attributed to rising crude exports from the Middle East and backing from the Group of Seven nations. Analysts forecast a notable year-over-year increase in S&P 500 earnings, buoyed by strength in the technology sector.
US stocks: Nasdaq hits record as megacap gains offset elevated Treasury yields
On Monday, the S&P 500 gained ground and the Nasdaq Composite hit a historic high, propelled by heavyweight stocks. The technology sector led this upward trend, thanks to impressive performance from Nvidia, Meta Platforms, Microsoft, and Tesla. However, the Dow Jones Industrial Average faced a slight setback amid elevated Treasury yields. Strong expectations for corporate earnings are buoying U.S. equities, even as inflation and geopolitical uncertainties persist.
IndiaAI Mission likely to rewire after GPU glitch
The IndiaAI Mission currently has access to about 30,000 GPUs against a total commitment of 45,000. Several firms that had committed capacity have been unable to deliver due to market pressures. The IT ministry is now planning to issue fresh bids while also pressing companies to meet their pledges.
Cerebras to supply AI systems to cloud computing startup Gimlet Labs
By Max A.- Cerebras Systems plans to supply AI chips and hardware with capacity to consume roughly 100 megawatts to startup Gimlet Labs to help run its cloud computing business, the companies said on Monday.
SK Hynix's Solidigm weighs IPO that could value the unit at up to $150 billion, sources say
Chipmaker SK Hynix's Solidigm is exploring a monumental initial public offering potentially worth $150 billion, aiming to secure approximately $15 billion. Currently in the early phases of planning, Solidigm specializes in NAND flash memory and solid-state drives, vital for AI technologies. This IPO has the potential to become one of the largest in semiconductor history in the U.S., alongside considerations for a new manufacturing facility in upstate New York.
SK Hynix's Solidigm weighs IPO that could value the unit at up to $150 billion: Report
Solidigm held pitch meetings this week with investment banks competing for roles on the IPO, in a process known as a "bake-off," one of the people and a fourth person said, marking a concrete step toward what could become the largest-ever US semiconductor listing.
Cerebras launches new server chip and system designed to speed AI chatbots
Cerebras makes AI hardware and chips that compete with Nvidia and targets the portion of AI called inference, the computing process of generating an answer in a chatbot such as Anthropic's Claude.
US stocks: Cerebras slumps 12% as mixed quarterly results test AI growth narrative
Cerebras Systems experienced a notable drop in its shares after falling short of key financial projections. Although its cloud revenue saw a remarkable increase, hardware sales faced a downturn, sparking concerns regarding the competitive edge of its AI chip sector. Analysts pointed out difficulties in scaling operations effectively to satisfy demand. Similarly, Cisco Systems' stock also took a hit due to an outlook that did not meet expectations.
US chip start-up Cerebras to raise $5.5 billion in IPO
Cerebras Systems is set to launch its IPO on Wall Street at $185 per share, aiming to raise approximately $5.5 billion and valuing the company at over $55 billion. This marks the largest US IPO this year, with the chip startup specializing in wafer-scale processors crucial for AI development.
Cerebras to raise IPO price range to $150-$160 as demand surges
Cerebras Systems plans to increase its IPO size and price. Demand for its artificial intelligence chips is surging. The company is considering a higher share price and more shares for its public offering. This move follows strong adoption of AI technology. Cerebras' processors are in high demand for AI model deployment.
AI chipmaker Cerebras is said to target up to $4 billion in IPO
AI chipmaker Cerebras Systems is preparing for a massive initial public offering. The company aims to raise up to four billion dollars, valuing itself at forty billion dollars. This move comes as demand for AI infrastructure surges. Cerebras plans to begin marketing its shares soon. The offering is being led by major financial institutions.
OpenAI signs $10 billion computing deal with Nvidia challenger Cerebras
This deal is worth more than $10 billion over the life of the contract, according to a source familiar with the matter. The ChatGPT maker plans to use the systems built by Cerebras to power its popular chatbot in what is the latest in a string of multi-billion-dollar deals struck by OpenAI.
Chip startup Cerebras launches new AI processor
Artificial intelligence startup Cerebras Systems announced a new version of its dinner-plate-sized chips on Wednesday, claiming the hardware will offer twice the performance for the same price as its predecessor.
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