Preserving ChatGPT working is expensive as heck, so OpenAI wants entry to loads of money to ensure the lights keep on. A day after the corporate stated it had secured $6.6 billion in funding — the most important ever funding spherical for a startup — it confirmed that it has a brand new $4 billion revolving line of credit score. OpenAI has but to faucet the credit score line, which it obtained from JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS and HSBC. A few of these banks are additionally amongst OpenAI’s prospects.
All advised, OpenAI now has a battle chest of over $10 billion in liquid funds. The corporate says that can give it the flexibility to put money into new tasks and analysis, develop its infrastructure and rent prime expertise. “This credit score facility additional strengthens our steadiness sheet and gives flexibility to grab future development alternatives,” OpenAI CFO Sarah Friar stated.
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