Cray closes $81M stock round

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On December 19 Cray completed a public offering of stock that netted it $81.3 million in new cash.

This is an important move for the company as it provides a cash cushion to carry them through the very cyclic HPC market’s ups and downs and can prevent the need for the company to extend itself on credit.

This news follows less than a month after DARPA’s announcement that Cray has won a $250M contract to build their adaptive supercomputing system (a separate award was also issued by DARPA to IBM).