Cerebras slumps as mixed quarterly results test AI growth narrative (August 13)
Cerebras Systems slumped over 18% premarket on Thursday after it quarterly results, raising doubts about the ability of its AI chips to challenge Nvidia.
Expectations were high for AI-linked companies including Cerebras and networking equipment maker Cisco, given the strong run-up in shares driven by Big Tech's ballooning spending, set to cross more than $740 billion for this year. Here are some details:
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