American AI chip startup Cerebras said Thursday it plans to boost its computing capacity in Europe, highlighting "extraordinary" demand on the continent. The California-based firm currently runs three data centres in France, Finland and Norway, with plans to reach 200 megawatts of processing power by next year. Chief executive Andrew Feldman described these as "massive expansions" worth several billion dollars, adding that placing data centres across Europe can meet "unique European requirements" on data control. Founded in 2015, Cerebras focuses on chips dedicated to AI "inference," and appetite for such chips has exploded with the rise of AI agents. The company's $5.5 billion stock market debut in the US occurred in May. With around 900 staff and a market capitalisation of $40 billion, Cerebras specializes in "wafer-scale systems." Among its European clients are British pharma giant GSK, high-performance data centres in Scotland and Germany, and software developers. In the first quarter, the company signed a contract with OpenAI estimated at over $20 billion, providing computing power to ChatGPT until at least 2028. Cerebras has also recently signed a partnership with Amazon Web Services.