OpenAI to Spend Over $20 Billion on Cerebras Chips and Receive Equity Stake… The Information Reports

OpenAI has agreed to pay over $20 billion over the next three years to use servers based on Cerebras's chips, and the deal could also include receiving warrants, according to The Information.

Considering that the 750MW computing capacity purchase agreement reached last January was over $10 billion, this new commitment is more than double that size. OpenAI's total spending could grow to as much as $30 billion, and this could result in warrants for up to 10% of Cerebras's equity, the report said.

OpenAI has also reportedly agreed to provide about $1 billion to support Cerebras's data center development. The partnership is said to be key to Cerebras's IPO plans as well, with the company targeting a listing in Q2 2026.

Cerebras, founded in 2015, makes wafer-scale engine chips and competes with companies such as Nvidia. The company was recently valued at $23.1 billion, and The Information added that it plans to raise $3 billion at a valuation of about $35 billion next month. OpenAI CEO Sam Altman is one of its early investors.