Cerebras Systems secures $10 billion data center infrastructure deal with OpenAI, including $1 billion loan

Cerebras Systems and OpenAI formalized a $10 billion agreement where OpenAI will utilize approximately 750 megawatts of computing power from Cerebras through 2028. The deal includes an additional 1.25 gigawatts of potential capacity through 2030, representing a substantial portion of Cerebras' projected revenues for the coming years. As part of the arrangement, OpenAI provided Cerebras with a $1 billion loan at a six percent annual interest rate to fund data center infrastructure development and cloud services expansion. OpenAI retains the right to terminate part or all of the agreement if Cerebras fails to deliver computing power on schedule, adding a performance-based termination clause to the contract. The transaction underscores Cerebras' strategic pivot toward AI infrastructure, with OpenAI emerging as its largest customer following the reduction of revenue dependence on Abu Dhabi-based G42 from 87% in early 2024 to 24% in 2025.

Counterparts (2)

Offtaker

OpenAI

company · 3 deals

OpenAI is focused on artificial intelligence research and deployment. While not directly an infrastructure investor, its activities in AI require significant computing power, leading to investment and development in data centers and related energy infrastructure.

Developer

Cerebras Systems

company · 1 deals

Cerebras Systems is a technology company that develops computer systems designed for artificial intelligence (AI) work. Their focus is on creating hardware solutions to accelerate AI workloads, particularly in data centers.