Cerebras signs OpenAI deal worth over $10 billion ahead of IPO

OpenAI announced a deal with Cerebras to provide 750 megawatts of computing power through 2028, reported to be worth over $10 billion; Cerebras previously withdrew an IPO prospectus and said it will refile with updated financials and strategy information.

Cerebras has reached an agreement with OpenAI to supply computing capacity, according to an OpenAI blog post. The arrangement covers 750 megawatts of computing power through 2028 and was reported by people close to the company to be worth over $10 billion. The deal follows earlier work to ensure OpenAI’s gpt-oss open-weight models run on Cerebras hardware alongside chips from Nvidia and AMD. Cerebras previously filed for an IPO in September 2024, then withdrew the prospectus in October and said it would refile with updated financials and strategy information. Key details: - OpenAI’s blog post states Cerebras will deliver 750 megawatts of computing power through 2028. - People close to the company reported the overall arrangement is worth over $10 billion. - An OpenAI engineer said Cerebras adds a low-latency inference solution to the platform, which OpenAI described as supporting faster responses and scaling real-time AI. - Cerebras had high customer concentration: the United Arab Emirates' G42 accounted for 87% of its revenue in the first half of 2024. - Cerebras disclosed in its September 2024 filing that Q2 2024 revenue approached $70 million and net loss widened to nearly $51 million; the company withdrew the prospectus after a $1.1 billion funding round and indicated it would provide a revised filing. Summary: The agreement with OpenAI represents a large commercial commitment that could diversify Cerebras’ customer base and expand use of its processors for generative AI workloads. The company has indicated it will refile its IPO prospectus with updated financials and strategy information. The timing and details of any revised filing are to be provided by the company.