For even more artificial intelligence (AI) chipmaker exposure outside of Nvidia and Advanced Micro Devices, Cathie Wood just added Cerebras Systems (NASDAQ: CBRS) into the Ark Invest universe.
Cerebras, known for its large chips the size of a dinner plate, had its initial public offering (IPO) on May 14
Wood quickly added shares to both the Ark Innovation ETF and Ark Next Generation Internet ETF on the day of the IPO. While Cerebras’ public debut offers investors more variety in the AI chip space, it doesn’t automatically mean investors should follow Ark’s latest moves. What’s attracting so many investors Cerebras’ value proposition over other chipmakers is the size of its chips.
Instead of relying on clusters of multiple smaller chips, it created a single large chip that allows for faster speeds. The company says speeds are up to 15 times faster than graphics processing units, the standard hardware used to train and run AI models. Its approach is winning over many high-profile names in the tech world.