By Reuters | Updated: April 17, 2026
April 16 (Reuters) – OpenAI has agreed to pay chip startup Cerebras more than $20 billion over the next three years to use servers powered by the company’s chips, under a deal that could also give the ChatGPT maker an equity stake in the firm, The Information reported on Thursday, citing sources.
The development comes as OpenAI attempts to pull ahead in the AI race and meet growing demand. In January, the company agreed to buy up to 750 megawatts of computing capacity from Cerebras over three years in a deal valued at more than $10 billion.
The newer commitments are double the size of OpenAI’s previously reported agreement with the chipmaker.
Reuters could not independently verify the report. OpenAI did not respond to a request for comment outside regular business hours, while Cerebras declined to comment.
The deal highlights the industry’s growing appetite for computing power to run inference – the process by which AI models generate responses.
Cerebras could disclose parts of its previously undisclosed arrangement with OpenAI as soon as Friday, the report said.
Under the deal, OpenAI will receive warrants for a minority stake in Cerebras, with its ownership potentially increasing as its spending rises, The Information reported. It added that OpenAI has also agreed to provide Cerebras about $1 billion to help fund the development of data centers that would run its AI products.
The company’s total spending over the next three years could reach $30 billion, which may translate into warrants representing up to a 10% stake in Cerebras, the report added.
CEREBRAS’ RELIANCE ON DEAL, IPO PLANS
The tie-up with OpenAI is central to Cerebras efforts to go public, with the AI chipmaker targeting a listing in the second quarter of this year.
Sunnyvale, California-based Cerebras, last valued at $23.1 billion, also plans to raise $3 billion in an offering next month at a valuation of about $35 billion, The Information reported on Thursday.
Founded in 2015, the company is known for its wafer-scale engine chips and competes with products from Nvidia (NVDA.O) and other AI chipmakers. OpenAI CEO Sam Altman is an early investor in Cerebras.
Reporting by Mrinmay Dey in Mexico City; Editing by Sonia Cheema
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