OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: 'Provides Flexibility To Seize Future Growth Opportunities'

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What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost computing capacity including Nvidia Corporation’s (NASDAQ:NVDA) chips.“This credit facility further strengthens our balance sheet and provides flexibility to seize future growth opportunities,” said OpenAI CFO Sarah Friar, in a blog on Thursday.

After securing a whopping $6.6 billion funding round, ChatGPT-parent OpenAI has bagged a $4 billion revolving credit line.

The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:JPM), Citigroup, Inc.

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Author / Journalist: Ananya Gairola

Category: Technology

Markets: United States

Topics: Benzinga HSBC US9497461015 Artificial intelligence US38141G1040 NVDA Consumer Tech CH0024899483 US5949181045 JPM News SAN C Tech GS US05965X1090 Benzinga neuro US46625H1005 US1729674242 US6174464486 MS Stories That Matter MSFT UBS US67066G1040 OpenAi WFC ChatGPT

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-10-04 @ 02:11:16 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 322 words

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Sentences: 15 lines

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Copyright Owner: © Benzinga

News ID: 22874452

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