OpenAI struck a $20 billion deal with Cerebras to use the chip company's AI servers over three years and received an equity stake in the process, marking a significant move to reduce dependence on Nvidia. The deal signals OpenAI's strategy shift toward diversifying its chip suppliers as it scales compute infrastructure for enterprise applications. Cerebras is preparing its own IPO with a target valuation of at least $35 billion, meaning OpenAI's equity stake could appreciate substantially if the public offering succeeds at these valuations.