State Street Buys $105.34 Million Stake in Cerebras Systems

State Street Corp acquired 476,663 shares of Cerebras Systems during the second quarter, according to a recent disclosure. The shares were valued at approximately $105.34 million, giving State Street a stake of about 0.20% in the AI chip company.

Several other hedge funds have also recently initiated or increased positions in Cerebras. In contrast, company insiders have sold a significant number of shares over the past three months, including CEO Andrew D. Feldman and Director Steven Vassallo, who sold shares earlier in September.