PYMNTS.com October 3, 2024
The world’s biggest companies can’t seem to stop giving OpenAI money.
One 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 JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS and HSBC — will be undrawn at closing, OpenAI said on its blog Thursday (Oct. 3).
“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,” the company said. “It also reaffirms...
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