On Oracle's quarterly earnings call held on March 10, 2026, CEO Clay Magouyrk named Cerebras as an important maker of artificial intelligence hardware, alongside Nvidia and AMD, highlighting Oracle's use of Cerebras chips in its infrastructure in addition to GPUs from Nvidia and Advanced Micro Devices (AMD) [1]. This recognition by Oracle, a major cloud-computing customer, is significant for Cerebras, which is currently pursuing an IPO after withdrawing its initial filing in October 2024 [1]. Days after the withdrawal, Cerebras announced a $1.1 billion funding round at a valuation of $8.1 billion, with CEO Andrew Feldman reaffirming the company's intention to go public [1].
Cerebras has recently expanded its client roster, which previously relied heavily on G42, a Microsoft-backed company based in Abu Dhabi, United Arab Emirates, that accounted for 87% of Cerebras' revenue in the first half of 2024 [1]. The addition of Oracle as a customer, along with a $10 billion commitment from OpenAI and other companies for cloud services announced in January, marks a significant diversification of Cerebras' revenue sources [1]. OpenAI has also started using Cerebras chips for a generative AI model focused on software development, and in February, OpenAI collaborated with Cerebras on Codex-Spark, an AI model for ChatGPT Pro customers [1].
Oracle's earnings call followed the company's report of better-than-expected results, an uplift in fiscal 2027 guidance, and a substantial increase in remaining performance obligations, which more than quadrupled to $553 billion from a year earlier [1]. Magouyrk emphasized Oracle's ongoing investments in data centers, compute capacity, and customer relationships, stating confidence that these investments will grow more valuable over time, and specifically named Cerebras and other chipmakers as part of this strategy [1].
Despite the positive developments, Oracle's price list does not currently mention Cerebras as an option, and neither Oracle nor Cerebras provided immediate comments regarding their partnership [1].
CONCLUSION
Oracle's public recognition of Cerebras as a key AI hardware provider, alongside Nvidia and AMD, signals a major boost for Cerebras as it prepares for an IPO. The expansion of Cerebras' customer base beyond G42, including commitments from OpenAI and Oracle, reduces its revenue concentration risk and enhances its market position. Oracle's strong earnings and increased performance obligations further underscore the positive market sentiment surrounding these developments.