Cerebras will supply 750 megawatts worth of processing power to run OpenAI’s models and applications through 2028. Sources told The Wall Street Journal that the deal is worth over US$10 billion. (The Logic, The Wall Street Journal)

Talking point: Sunnyvale, Calif.-based Cerebras builds chips that are much larger than normal, which it claims run AI faster, cheaper and more efficiently than market leader Nvidia’s hardware. The firm, which houses a big part of its software team in Toronto, is reportedly in talks to raise US$1 billion at a US$22-billion valuation. As new partner OpenAI bids to secure hundreds of billions of dollars worth of compute capacity, it’s struck deals with a wide variety of cloud providers, data-centre builders and chipmakers. The ChatGPT maker has already committed to buying six gigawatts of infrastructure from AMD, and 10 gigawatts from Nvidia. Both Cerebras and OpenAI also have programs to build compute capacity for countries that are willing to pay for it.