$CBRS did not disappoint today either, up +9.61% to 211.3, with a high of 216.68. Trading volume was 52.6M, noticeably higher than the previous few days, so this wasn’t blind buying by the funds.
The price action logic is actually pretty clear. On one side, news out of China about in-house AI chip development spooked the whole sector a bit; on the other side, Cerebras landed a 165MW mega deal in Finland. With those two forces pulling in opposite directions, the market chose to move higher.
The key is that this kind of action from $CBRS really does have a somewhat ambiguous relationship with crypto sentiment. When the AI narrative heats up, money gets pulled out of BTC to look for more elastic names, and $CBRS often gets dragged up along the way. Conversely, if the crypto market collapses, this kind of U.S. stock asset on Binance can get hit as collateral damage too.
Put simply, the market is basically walking on two legs right now: one is macro interest-rate expectations, and the other is the pace of the AI arms race. As long as U.S. economic data doesn’t blow up, funds are willing to assign a valuation to AI names like $CBRS that actually have real revenue.
#AI
The price action logic is actually pretty clear. On one side, news out of China about in-house AI chip development spooked the whole sector a bit; on the other side, Cerebras landed a 165MW mega deal in Finland. With those two forces pulling in opposite directions, the market chose to move higher.
The key is that this kind of action from $CBRS really does have a somewhat ambiguous relationship with crypto sentiment. When the AI narrative heats up, money gets pulled out of BTC to look for more elastic names, and $CBRS often gets dragged up along the way. Conversely, if the crypto market collapses, this kind of U.S. stock asset on Binance can get hit as collateral damage too.
Put simply, the market is basically walking on two legs right now: one is macro interest-rate expectations, and the other is the pace of the AI arms race. As long as U.S. economic data doesn’t blow up, funds are willing to assign a valuation to AI names like $CBRS that actually have real revenue.
#AI