OpenAI plans to spend more than $20B on Cerebras chips and will receive an equity stake as part of the agreement. Cerebras is targeting a roughly $35B valuation in its upcoming IPO, positioning itself as a major alternative compute supplier in the race to scale AI training [image…
SCOOP: OpenAI agreed to pay Cerebras more than $20 billion to use the firms chips over the next three years—in exchange for equity rights. - OpenAI's spending could reach $30B, which could give OpenAI warrants for 10% of Cerebras - OpenAI has also agreed to provide Cerebras