OpenAI may get a share of rival Nvidia. It will buy $20 billion worth of chips from it

The developer of the ChatGPT AI model, OpenAI, has agreed to pay chip development startup Cerebras more than $20 billion for the use of servers running on the company's chips. This is reported by The Information with reference to sources, writes Reuters.

According to The Information's sources, Cerebras OpenAI expects to pay this amount over the next three years. The deal may also give the ChatGPT manufacturer a stake in the firm's capital - it could potentially be up to 10% of the chip maker's shares, the publication's sources say.

For Cerebras, which has been described as Nvidia's rival in the fast-growing chip market, a partnership with OpenAI could be key, Reuters points out: the AI chipmaker plans to float its shares on the stock exchange in the second quarter of this year, the agency's sources said. Cerebras' last valuation was $23.1 billion, and the company also plans to raise $3 billion in an offering next month, which could bring its valuation to about $35 billion, The Information writes.

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