Cerebras Systems co-founder and Chief Executive Andrew Feldman likes to compare the current state of AI to the dial-up era of the internet, when logging onto AOL needed a modem connection and Netflix was mailing DVDs to its customers.

"As the internet got faster, we saw the emergence of streaming," Feldman told MarketWatch in an interview. "And as the internet got really fast, we saw every consumer being a creator with short-form videos. Whole new business models emerged because the underlying infrastructure got faster."