Cerebras Systems slumped over 12% in early trading Thursday after it missed key estimates despite soaring cloud revenue, 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:
