OpenAI Gets $4 Billion in Credit on Top of $6.6 Billion Fundraise
- JPMorgan, Citi, Goldman and other banks participated
- The AI startup now has access to more than $10 billion
Sam Altman
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
OpenAI has tapped global banks for a $4 billion revolving line of credit on top of its recent $6.6 billion fundraising, building a massive war chest to stay ahead in the costly race to develop more sophisticated artificial intelligence.
In a statement Thursday announcing the credit facility, the company wrote, “This means we now have access to over $10 billion in liquidity, which gives us the flexibility to invest in new initiatives and operate with full agility as we scale.”