PYMNTS.com September 11, 2024
OpenAI reportedly aims to raise $6.5 billion from investors at a valuation of $150 billion.
The firm also is seeking to raise $5 billion in debt from banks via a revolving credit facility, Bloomberg reported Wednesday (Sept. 11), citing unnamed sources.
The discussions are ongoing, and the terms could change, according to the report.
OpenAI did not immediately reply to PYMNTS’ request for comment.
The financing will be used to cover the company’s computing power needs and other operating expenses, per the report.
It was reported Aug. 28 that OpenAI aimed to raise “several billion dollars” in a funding round that would result in a valuation above $100 billion. The firm was valued at $86 billion when employees sold shares...
Today's Sponsors
Today's Sponsor