What you need to know about Nvidia competitor Cerebras after wild IPO
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- Cerebras closed its first day trading on Wall Street with a market cap just below $100 billion, putting it near the few companies to close above that mark, such as Facebook-parent Meta and Alibaba.
- Here's what you need to know about this hot Nvidia competitor.
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Cerebras Systems' monster debut on Thursday didn't just place it among tech's biggest-ever IPOs — it was a crystal clear signal of unstoppable demand for chips to power AI, as tech giants scramble to find alternatives to the costly, sold-out graphics processing units made by Nvidia.
Cerebras closed its first day trading on Wall Street with a market cap just below $100 billion, putting it near the few companies to close above that mark, such as Facebook-parent Meta and Alibaba. The stock traded lower on Friday, its first full day of trading.