I feel like “agreed” carries less weight if the agreement is non-binding.
Like others said, it’s a letter of intent.
It’s basically a standing, non-binding contract. It’s often used for raising money and getting funding to start building out production.
Basically, if both companies honor it, it means OpenAI would get the first chips.
Not honoring these types of things can often fall back negatively on both parties.
Kind of like when people go into a shop, or call them, and ask them to put aside an item.
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"During Altman’s tenure as CEO, OpenAI signed a letter of intent to spend $51 million on AI chips from a startup called Rain AI into which he has also invested personally.
Rain is based less than a mile from OpenAI’s headquarters in San Francisco and is working on a chip it calls a neuromorphic processing unit, or NPU, designed to replicate features of the human brain. OpenAI in 2019 signed a nonbinding agreement to spend $51 million on the chips when they became available, according to a copy of the deal and Rain disclosures to investors this year seen by WIRED. Rain told investors Altman had personally invested more than $1 million into the company. The letter of intent has not been previously reported."
sneeky bastard