* Deal could give OpenAI equity stake, potentially up to

10% ownership in chipmaker, report said

* OpenAI's total spending in Cerebras may reach $30

billion, The Information said

* Cerebras plans $3 billion raise at $35 billion

valuation, per report

(Adds details from paragraphs 9-12)

April 16 (Reuters) - OpenAI has agreed to pay chip

startup Cerebras more than $20 billion over the next three years

to use servers powered by the company's chips, under a deal that

could also give the ChatGPT maker an equity stake in the firm,

The Information reported on Thursday, citing sources.

The development comes as OpenAI attempts to pull ahead in

the AI race and meet growing demand. In January, the company

agreed to buy up to 750 megawatts of computing capacity from

Cerebras over three years in a deal valued at more than $10

billion.

The newer commitments are double the size of OpenAI's

previously reported agreement with the chipmaker.

Reuters could not independently verify the report. OpenAI

did not respond to a request for comment outside regular

business hours, while Cerebras declined to comment.

The deal highlights the industry's growing appetite for

computing power to run inference - the process by which AI

models generate responses.

Cerebras could disclose parts of its previously undisclosed

arrangement with OpenAI as soon as Friday, the report said.

Under the deal, OpenAI will receive warrants for a minority

stake in Cerebras, with its ownership potentially increasing as

its spending rises, The Information reported. It added that

OpenAI has also agreed to provide Cerebras about $1 billion to

help fund the development of data centers that would run its AI

products.

The company's total spending over the next three years could

reach $30 billion, which may translate into warrants

representing up to a 10% stake in Cerebras, the report added.

CEREBRAS' RELIANCE ON DEAL, IPO PLANS

The tie-up with OpenAI is central to Cerebras efforts to go

public, with the AI chipmaker targeting a listing in the second

quarter of this year.

Sunnyvale, California-based Cerebras, last valued at $23.1

billion, also plans to raise $3 billion in an offering next

month at a valuation of about $35 billion, The Information

reported on Thursday.

Founded in 2015, the company is known for its wafer-scale

engine chips and competes with products from Nvidia ( NVDA ) and

other AI chipmakers. OpenAI CEO Sam Altman is an early investor

in Cerebras.