Rapid planetesimal formation in turbulent circumstellar discs is a key process in the early stages of planet formation. Dust grains in circumstellar discs collide and grow into larger bodies, but the transition from metre-sized boulders to kilometre-scale planetesimals remains unclear. Boulders stick poorly and spiral into the protostar due to gas drag. Gravitational collapse of solids has been proposed to overcome this barrier, but turbulence inhibits sedimentation to a dense midplane layer. However, turbulence is necessary to explain gas accretion in protostellar discs. The study reports efficient gravitational collapse of boulders in overdense regions of the midplane, driven by transient high pressures and the streaming instability. Gravitational collapse occurs faster than radial drift, offering a path to planetesimal formation. The study uses simulations with the Pencil Code to model the dynamics of self-gravitating solid particles in magnetized, three-dimensional turbulence. Models show that gravitational collapse forms clusters with masses comparable to dwarf planets. The study also considers the effects of turbulence, magnetic fields, and collisional cooling on the formation of planetesimals. The results suggest that gravitational collapse can occur in the absence of collisional cooling, but it is more efficient in less massive discs. The study also highlights the importance of understanding the formation and survival of dense sedimentary layers of boulders in the presence of processes like coagulation, collisional fragmentation, and erosion. Future research should focus on higher resolution studies of collision speeds and an improved analytical theory of collisions that includes epicyclic motion. The study concludes that the existence of a dense sedimentary layer of boulders is crucial for planetesimal formation.Rapid planetesimal formation in turbulent circumstellar discs is a key process in the early stages of planet formation. Dust grains in circumstellar discs collide and grow into larger bodies, but the transition from metre-sized boulders to kilometre-scale planetesimals remains unclear. Boulders stick poorly and spiral into the protostar due to gas drag. Gravitational collapse of solids has been proposed to overcome this barrier, but turbulence inhibits sedimentation to a dense midplane layer. However, turbulence is necessary to explain gas accretion in protostellar discs. The study reports efficient gravitational collapse of boulders in overdense regions of the midplane, driven by transient high pressures and the streaming instability. Gravitational collapse occurs faster than radial drift, offering a path to planetesimal formation. The study uses simulations with the Pencil Code to model the dynamics of self-gravitating solid particles in magnetized, three-dimensional turbulence. Models show that gravitational collapse forms clusters with masses comparable to dwarf planets. The study also considers the effects of turbulence, magnetic fields, and collisional cooling on the formation of planetesimals. The results suggest that gravitational collapse can occur in the absence of collisional cooling, but it is more efficient in less massive discs. The study also highlights the importance of understanding the formation and survival of dense sedimentary layers of boulders in the presence of processes like coagulation, collisional fragmentation, and erosion. Future research should focus on higher resolution studies of collision speeds and an improved analytical theory of collisions that includes epicyclic motion. The study concludes that the existence of a dense sedimentary layer of boulders is crucial for planetesimal formation.