OpenAI Secures $4 Billion Credit Line, Boosting Liquidity to Over $10.5 Billion

Oct 3, 2024, 02:21 PM

OpenAI has secured a $4 billion revolving line of credit from a consortium of major banks including JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC. This new credit facility brings OpenAI's total liquidity to more than $10.5 billion. The credit line follows a recent $6.6 billion investment from companies such as Microsoft and NVIDIA. OpenAI, which now has 250 million active users, will be paying approximately 6% interest on borrowed funds from this credit line. OpenAI recently closed funding at a valuation of $157 billion.