OpenAI has successfully secured a new $4 billion revolving credit facility, reinforcing its position as one of the most valuable private companies globally. This financial milestone follows the completion of a $6.6 billion funding round, significantly expanding the company's liquidity to $10 billion.
The additional funds will enable OpenAI to invest in high-cost computational resources, such as Nvidia chips, to better compete with tech giants like Google's parent company, Alphabet. OpenAI's CFO emphasized that the credit facility strengthens the company's balance sheet and offers the flexibility needed to seize future growth opportunities.
The credit line is backed by leading financial institutions, including JPMorgan Chase, Citibank, Goldman Sachs, Morgan Stanley, Santander Bank, Wells Fargo, SMBC, UBS Group, and HSBC.