Compute · the Ledger · Capacity contract
OpenAI agrees to deploy 750 MW of Cerebras inference compute; Cerebras's S-1 values the deal at more than $20B
Signed · announced 14 Jan 2026 · the week to 16 Jan 2026
- Size
- $20B
- Power
- 750 MW
'More than $20 billion' per Cerebras's S-1 (a floor, not a ceiling); OpenAI's announcement states no value.
The parties
- OpenAIcompany pageBuyer
- Cerebrascompany pageProvider
The source
Cerebras S-1, April 2026Regulatory filing
Tranches through 2028. OpenAI receives a warrant for 33,445,026 Cerebras Class N shares subject to vesting (S-1).
The same parties, other deals
- Nvidia gives SB Energy residual value guaranties, capped at $105B, on ~4.25 GW of Ohio data center leases to OpenAI$105B · 17 Aug 2026
- Amazon agrees to invest $50B in OpenAI: $15B in the current round plus a $35B commitment tied to milestones or an IPO$50B · 27 Feb 2026
- OpenAI expands its AWS agreement by $100B over eight years, including ~2 GW of Trainium capacity$100B · 27 Feb 2026
- OpenAI signs a $38B, seven-year agreement for AWS capacity on Nvidia GB200 and GB300 GPUs$38B · 3 Nov 2025
- OpenAI recapitalizes; Microsoft's stake is ~27% (~$135B) and OpenAI contracts to buy an incremental $250B of Azure services$250B · 28 Oct 2025
- OpenAI and Broadcom sign a term sheet to deploy 10 GW of OpenAI-designed accelerators and Broadcom networking by 2029undisclosed · 13 Oct 2025