Cathie Wood Invests $6.5M in Cerebras as AI Chip Stock Rises
Cathie Wood, founder of Ark Investment Management, has invested $6.5 million into Cerebras Systems Inc (CBRS), a semiconductor company focused on artificial intelligence chips. The purchase occurred after the stock saw a recent five-day rally of about 15%, following news of an AI data center partnership in Finland. Wood's flagship fund, Ark Innovation ETF (ARKK), has had mixed performance over time—delivering strong returns during bullish markets like 2020 but suffering significant losses in bearish periods such as 2022. Despite a five-year annualized return of -6.87%, Wood remains optimistic about AI's potential to drive corporate profits and economic growth. Cerebras, which went public in May, has seen its stock fall by around 36% since the IPO but recently raised its full-year outlook after reporting second-quarter results.
Topics: AI chips ARKK Cathie Wood Cerebras Semiconductors