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Cray stock up on news of faster CPUs

Shares of Cray rose 31 percent Wednesday to close at $2 on news its coming SV1ex supercomputer will debut with faster CPUs than expected. Cray said Tuesday the SV1ex, expected to debut later this quarter, will have CPUs running at a speed of 500MHz, meaning that each chip can perform a peak of 2 billion mathematical calculations per second. Cray earlier had expected only 1.8 billion calculations per second from the chips, the company said. Cray also plans to begin selling the SV1 line's successor, the SV2, beginning in the second half of 2002. In addition, Cray expects to begin selling supercomputers from Japanese manufacturer NEC after a deal with the company is completed within the next 60 days.

Shares of Cray rose 31 percent Wednesday to close at $2 on news its coming SV1ex supercomputer will debut with faster CPUs than expected. Cray said Tuesday the SV1ex, expected to debut later this quarter, will have CPUs running at a speed of 500MHz, meaning that each chip can perform a peak of 2 billion mathematical calculations per second.

Cray earlier had expected only 1.8 billion calculations per second from the chips, the company said. Cray also plans to begin selling the SV1 line's successor, the SV2, beginning in the second half of 2002. In addition, Cray expects to begin selling supercomputers from Japanese manufacturer NEC after a deal with the company is completed within the next 60 days.