OpenAI is placing a substantial bet on Nvidia (NVDA) rival Cerebras Systems, inking a deal to procure 750 megawatts of computing power through 2028. While the financial terms weren't disclosed, sources familiar with the matter suggest the agreement could exceed $10 billion in value.
The partnership isn't entirely new territory for the two companies. They've already been working together on deploying OpenAI's gpt-oss open-weight models on Cerebras hardware, alongside chips from Nvidia Corp (NVDA) and Advanced Micro Devices (AMD). This latest deal simply takes things to another level.
For Cerebras, landing OpenAI as a major customer is something of a lifeline. The company had become uncomfortably dependent on G42, a UAE-based firm that accounted for a staggering 87% of Cerebras' revenue in the first half of 2024. That's the kind of customer concentration that keeps CFOs up at night.
Cerebras co-founder and CEO Andrew Feldman summed up the company's growth strategy simply: "The way to build three very large customers is to start with one, keep them happy, and then win the second." Fair enough.












