Cerebras Falls Behind on Preparing First OpenAI Capacity Tranche as Data Center Deals Lag

Cerebras Systems says preparations for the first 250 megawatts of capacity it agreed to supply OpenAI are behind schedule because data center contracts are taking longer than planned. The first tranche is due by the end of 2026.

The agreement covers 750 MW of inference capacity, divided into three equal tranches. The delivery schedule for OpenAI capacity sets the second 250 MW for the end of 2027 and the final tranche for the end of 2028.

Cerebras is pursuing data center sites in North America and Europe. It is working to secure a 165 MW facility in Finland. OpenAI extended Cerebras a $1 billion working-capital loan in January 2026 to support the buildout.

Slower site readiness can delay when contracted demand becomes recognized revenue. Cerebras reported higher cloud revenue for the third quarter of 2026 and raised its full-year sales guidance as demand broadened across its business. Its backlog exceeds $25 billion, with a significant portion tied to the OpenAI agreement.