On October 3, 2024, OpenAI announced a new $4 billion credit facility in addition to its previous $6.6 billion funding round. In total, the company now has access to more than $10 billion in liquidity, according to an official statement.
For the new revolving credit line, ChatGPT has partnered with JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC. The funds will be used for further investments in artificial intelligence.
This once again confirms OpenAI's strong cooperation with a group of financial institutions, many of which are direct clients of the company. This $10.6 billion will give OpenAI the flexibility to invest in new initiatives and in "groundbreaking research and products."
“This credit facility further strengthens our balance sheet and provides flexibility to seize future growth opportunities,” said Sarah Friar, CFO of OpenAI. “We are proud to have the strongest banks and investors in the world supporting us.”
We would like to remind you that on October 3, ChatGPT also attracted another $6.6 billion in investments, completing a new round of financing. Thrive Capital contributed a record amount, and other investors included Microsoft and NVIDIA. In total, this raised the value of OpenAI to $157 billion.