The artificial intelligence startup OpenAI seems to be on a roll when it comes to securing funds from investors. Just a day after securing $6.6 billion in new funding from an array of tech giants and venture capitalists, the artificial intelligence (AI) startup revealed it had established a $4 billion credit facility with nine of the world’s largest banks. The revolving credit facility with – Goldman Sachs, HSBC, SMBC, JPMorgan Chase, Citi, Morgan Stanely, Santander, Wells Fargo, and UBS will be undrawn at closing as stated by OpenAI in its blog post.
The company said, “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. It also reaffirms our partnership with an exceptional group of financial institutions, many of whom are also OpenAI customers.”
OpenAI's Finance Chief Sarah Friar said, “This credit facility further strengthens our balance sheet and provides flexibility to seize future growth opportunities.”
