OpenAI Cerebras Deal Diversifies Cerebras
OpenAI Cerebras deal commits multiyear computing capacity and reshapes Cerebras' revenue mix, altering fundraising and IPO positioning for traders.
KEY TAKEAWAYS
- OpenAI committed up to 750 megawatts through 2028 in a multiyear pact valued above $10.0 billion.
- The deal reduces Cerebras' customer concentration; G42 had accounted for 87.0% of H1 2024 revenue.
- It strengthens Cerebras' financing outlook and could reshape its IPO and funding plans.
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The OpenAI Cerebras deal, first reported Jan. 14, 2026, commits OpenAI to multiyear computing capacity aimed at accelerating low-latency inference and faster responses, reshaping Cerebras' customer mix and capital plans.
Deal Terms and Strategic Impact
Cerebras Systems will deliver up to 750 megawatts of computing capacity from 2026 through 2028 under a multiyear agreement valued at over $10 billion. The company’s chief executive said the deal was signed around November 2025.
OpenAI, which serves roughly 900 million weekly users, is expanding its compute portfolio to include alternatives to Nvidia GPUs amid a broader chip shortage. The capacity commitment aims to support faster, real-time AI inference for complex tasks.
This agreement significantly reduces Cerebras' revenue concentration. In the first half of 2024, a single Abu Dhabi partner, G42, accounted for 87% of the company’s revenue. Adding OpenAI as a major customer diversifies Cerebras’ client base and could strengthen its financing position.
Cerebras sells wafer-scale AI chips that it markets as faster than conventional GPUs. The company has supported inference on large models at about 3,000 tokens per second. Scaling this architecture to utility-scale power delivery will test both its operations and the commercial market for non-GPU inference hardware.
The company is reportedly in talks for a $1 billion funding round at a valuation near $22 billion. It initiated an IPO process in 2024 that was later delayed. The new commercial commitment from OpenAI could alter Cerebras’ fundraising strategy and the outlook for any future public offering.
