Cathie Wood's Ark Invest has added to its holdings in AI chip company Cerebras, purchasing 82,779 shares. The move comes as the fund continues to bet on companies developing specialized hardware for artificial intelligence workloads.
Ark's latest AI bet
Ark Invest, known for its focus on disruptive technology, now holds a larger stake in Cerebras. The company designs giant chips that aim to accelerate AI training and inference, competing with established players like Nvidia. The exact value of the purchase was not disclosed in the available information.
What the purchase means
The additional shares boost Ark's position in a sector that has seen intense investor interest. Cerebras, which went public in 2023, has positioned itself as a niche player in the AI chip market. Ark's decision to increase its stake signals continued belief in the company's technology and market potential, though the fund's broader strategy remains known only to its managers.
