The people spoke on condition of anonymity, in order to discuss internal matters.<\/p>\n
Cerebras declined to comment.<\/p>\n
For years, Cerebras sought to sell chips to companies, but it has begun operating the chips inside its own data centers as a cloud service on behalf of clients. In January, Cerebras touted plans to provide up to 750 megawatts of computing power to OpenAI through 2028 in an agreement valued at over $10 billion<\/a>.<\/p>\n OpenAI has since expanded its relationship with Cerebras in an agreement worth over $20 billion and will get warrants to buy Cerebras shares, one person said. The Information<\/a> previously reported on the arrangement.<\/p>\n Another major expansion could be on the way. <\/p>\n On Oracle’s March earnings call, CEO Clay Magouyrk mentioned that the database and cloud company offers chips<\/a> from Cerebras and other suppliers. But at the time, Oracle’s price list did not contain references to Cerebras.<\/p>\n Cerebras does supply OpenAI with cloud-based computing power to operate a coding tool. Many companies that build and deploy generative AI models rely on Nvidia’s<\/a> graphics processing units, or GPUs. AMD<\/a> has made inroads in AI infrastructure as well.<\/p>\n Cerebras has picked up new business by emphasizing the high speed that its large-scale processors can deliver, particularly for responding to queries from end users. <\/p>\n The company announced plans<\/a> for an initial public offering in 2024 but withdrew the paperwork<\/a> last year to add information<\/a> on financial performance and strategy.<\/p>\n Retail investors are thirsty for IPOs<\/a> from large and growing technology companies after a relative drought that began in 2022. AI companies Anthropic<\/a> and OpenAI<\/a> are considering going public as soon as this year.<\/p>\n In September, days before withdrawing the IPO paperwork, Cerebras said it had raised a $1.1 billion\u00a0funding round<\/a>\u00a0at a $8.1 billion valuation.<\/p>\n Cerebras was founded in 2016 and is based in Sunnyvale, California. Andrew Feldman, the startup’s co-founder and CEO, sold server startup SeaMicro to\u00a0AMD<\/a>\u00a0for $355 million in 2012. <\/p>\n Feldman has said that in 2018, Tesla<\/a> CEO Elon Musk tried to buy Cerebras. The company’s investors include OpenAI CEO Sam Altman.<\/p>\n CNBC’s Seema Mody contributed to this report.<\/p>\n WATCH: OpenAI unveils first AI model running on Cerebras chips<\/a><\/p>\n
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