Lior Susan Discloses Investment at Cerebras Systems with 6.1% Stake

About this update from Cerebras Systems Inc.

Lior Susan, the managing member of multiple Eclipse Ventures entities, disclosed a 6.1% stake in Cerebras Systems, Inc. through Class B shares. He filed the Schedule 13D on May 22, 2026, shortly after Cerebras closed its IPO and converted preferred stock into Class B common stock. The stake carries high-vote Class B shares, highlighting meaningful voting power alongside post-IPO restrictions and rights.Investor IntentSusan holds the position for investment purposes and can convert the Class B shares to Class A on a one-for-one basis. He agreed "not to sell, transfer or otherwise convey" his Cerebras securities for 180 days after the IPO underwriting agreement, creating a near-term lock-up through mid-November 2026.He also holds registration rights that allow him and the Eclipse funds to request that Cerebras register their shares for sale after the lock-up. Beyond that, he may adjust the position over time, and any future buys or sales could occur through open market trades, private deals, or 10b5-1 plans.Investor's BackgroundLior Susan is a U.S. venture capitalist and the founder and managing partner of Eclipse Ventures, a Palo Alto–based firm. Eclipse invests in early and growth-stage companies building complex hardware, software, and AI systems for industry and infrastructure. Susan focuses on long-term, hands-on investments and has backed multiple deep-tech and advanced manufacturing startups.Original SEC Filing: This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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