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OpenAI gets $4 billion revolving credit line on top of $6.6 billion in funding
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.
OpenAI's rapid ascent, which began with the launch of ChatGPT in late 2022, has been the biggest story in the tech industry over the last couple of years, bringing the concept of generative artificial intelligence into the mainstream and paving the way for tens of billions of dollars of investments in AI infrastructure. OpenAI held an all-hands meeting last Thursday following the board's decision to consider restructuring the company to a for-profit business, according to a person with knowledge of the matter, who said that should the change occur, the nonprofit segment would remain as a separate entity. At that meeting, OpenAI CEO Sam Altman denied reports of plans for him to receive a "giant equity stake" in the company, calling that information "just not true," according to the person, who was in attendance.
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