April 16 (Reuters) - OpenAI has agreed to pay chip startup Cerebras more than $20 billion over the next three years to use servers powered by the ‌company's chips, under a deal that could also give the ChatGPT maker an ‌equity stake in the firm, The Information reported on Thursday, citing sources.

The development comes as OpenAI attempts to ​pull ahead in the AI race and meet growing demand. In January, the company agreed to buy up to 750 megawatts of computing capacity from Cerebras over three years in a deal valued at more than $10 billion.

The newer commitments are double the size of OpenAI's ‌previously reported agreement with the ⁠chipmaker.

Reuters could not independently verify the report. OpenAI did not respond to a request for comment outside regular business hours, while Cerebras declined ⁠to comment.

The deal highlights the industry's growing appetite for computing power to run inference - the process by which AI models generate responses.

Cerebras could disclose parts of its previously undisclosed arrangement with ​OpenAI as ​soon as Friday, the report said.

Under the deal, ​OpenAI will receive warrants for a ‌minority stake in Cerebras, with its ownership potentially increasing as its spending rises, The Information reported. It added that OpenAI has also agreed to provide Cerebras about $1 billion to help fund the development of data centers that would run its AI products.

The company's total spending over the next three years could reach $30 billion, which may translate into warrants ‌representing up to a 10% stake in Cerebras, the ​report added.

CEREBRAS' RELIANCE ON DEAL, IPO PLANS

The tie-up ​with OpenAI is central to Cerebras ​efforts to go public, with the AI chipmaker targeting a listing in ‌the second quarter of this year.

Sunnyvale, ​California-based Cerebras, last valued ​at $23.1 billion, also plans to raise $3 billion in an offering next month at a valuation of about $35 billion, The Information reported on Thursday.

Founded in 2015, the company ​is known for its wafer-scale ‌engine chips and competes with products from Nvidia and other AI chipmakers. ​OpenAI CEO Sam Altman is an early investor in Cerebras.

(Reporting by Mrinmay Dey ​in Mexico City; Editing by Sonia Cheema)