05:34 AM EDT, 04/17/2026 (MT Newswires) -- Microsoft ( MSFT )-backed (MSFT) OpenAI has agreed to pay Cerebras more than $20 billion for servers using the firm's chips over the next three years, The Information reported, citing unnamed people with knowledge of the deal.

The deal, which is double the amount previously associated with this purchase, will likely reduce dependence on Nvidia's ( NVDA ) chips and potentially lower OpenAI's computing expenses, the report said.

As part of the agreement, OpenAI will receive warrants for shares of Cerebras, two sources told The Information. OpenAI's spending over the next three years could reach $30 billion, which could give OpenAI warrants for 10% of Cerebras, another source told the news outlet.

OpenAI has agreed to provide Cerebras with about $1 billion to fund the development of data centers that would run its AI products, according to the report.

Cerebras could reveal part of this arrangement as early as Friday, when it unveils fundraising paperwork to go public, according to people familiar with the matter cited in the news report. It is targeting about $3 billion at a valuation of around $35 billion in an offering in May, the people told the publication.

OpenAI, Microsoft ( MSFT ), and Cerebras did not immediately respond to a request for comment from MT Newswires.

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