OpenAI Secures $4 Billion Credit Line, Adding to $6.6 Billion in Total Funding

Home AI News OpenAI Secures $4 Billion Credit Line, Adding to $6.6 Billion in Total Funding

Maintaining ChatGPT is costly, prompting OpenAI to secure substantial funding to ensure operations continue smoothly. Shortly after announcing a record $6.6 billion funding round, OpenAI confirmed the acquisition of a new $4 billion revolving line of credit. This credit line, obtained from major financial institutions including JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC, remains untapped. Notably, several of these banks are also customers of OpenAI.

In total, OpenAI now boasts over $10 billion in liquid assets. This funding will enable the company to invest in innovative projects, enhance its infrastructure, and attract top talent. “This credit facility fortifies our balance sheet and offers the flexibility to pursue future growth opportunities,” stated OpenAI CFO Sarah Friar.

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