OpenAI gets $4 billion revolving credit line, giving it more than $10 billion in liquidity
Headline from NBC New York
On top of its latest funding round, OpenAI has put a $4 billion revolving credit line in place — bringing its total liquidity to more than $10 billion.
NBC New York's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
OpenAI says it has raised $6.6 billion in venture capital investments as part of a broader shift by the ChatGPT maker away from its nonprofit roots. Led by venture capital firm Thrive Capital, the funding round is backed by tech giants Microsoft, Nvidia and SoftBank.
The AI startup is grappling with a wave of high-level exits and internal debate about its business objectives, but it has not dampened investors appetite.
Sam Altman's OpenAI has raised $6.6 billion from investors at a post-money valuation of $157 billion, cementing the ChatGPT maker's status as one of the most valuable private companies in the world, sources familiar with the matter said Wednesday.
On top of its latest funding round, OpenAI has put a $4 billion revolving credit line in place — bringing its total liquidity to more than $10 billion.
Artificial intelligence giant OpenAI has raised $6.6 billion in new funding at a $157 billion valuation—more than the market caps of companies like Uber Technologies and Lowe's.
OpenAI has access to even more money after revealing it has established a new $4 billion credit facility with global banks. The company closed a $6.6 billion funding round this week.
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OpenAI gets $4 billion revolving credit line, giving it more than $10 billion in liquidity | Since Then
