Maintaining ChatGPT working is expensive as heck, so OpenAI wants entry to loads of money to verify the lights keep on. A day after the corporate mentioned it had secured $6.6 billion in funding — the largest ever funding spherical for a startup — it confirmed that it has a brand new $4 billion revolving line of credit score. OpenAI has but to faucet the credit score line, which it obtained from JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS and HSBC. A few of these banks are additionally amongst OpenAI’s clients.
All advised, OpenAI now has a conflict chest of over $10 billion in liquid funds. The corporate says that may give it the flexibility to spend money on new tasks and analysis, develop its infrastructure and rent prime expertise. “This credit score facility additional strengthens our stability sheet and supplies flexibility to grab future progress alternatives,” OpenAI CFO Sarah Friar mentioned.
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