OPENAI TO SPEND MORE THAN $20 BILLION ON CEREBRAS CHIPS, RECEIVE STAKE, THE INFORMATION REPORTS

Summary from the TLDR AI newsletter

OpenAI will pay Cerebras more than $20 billion over the next three years to use servers powered by Cerebras' chips. The deal may also give OpenAI an equity stake in Cerebras. OpenAI has also agreed to provide Cerebras with about $1 billion to help fund the development of data centers. Cerebras is targeting an IPO in the second quarter of this year.