Brad Gerstner's Altimeter Capital has revealed a significant new investment in Cerebras Systems, an AI infrastructure company known for its massive wafer-scale processors that challenge traditional GPUs. According to a quarterly disclosure, Altimeter held 7.23 million shares valued at approximately $1.60 billion as of June 30, 2026. This new position immediately constitutes 16.24% of Altimeter's reported portfolio, making it the firm's second-largest holding.
These mandatory 13F filings are released with a delay, reflecting positions held at the end of the previous quarter and not necessarily current-day trades. Gerstner, who also serves on the Cerebras board, has been vocal about his firm's tech-focused strategy, recently treating volatility in the semiconductor sector as a buying opportunity. Cerebras develops AI supercomputers and has partnerships with major companies like Dell to compete with Nvidia in the AI hardware market.