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OpenAI Gets $4 Billion Revolving Credit Line, Giving It More Than $10 Billion in Liquidity
OpenAI has a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion, CNBC reported Thursday. From the report: It follows news on Wednesday that OpenAI closed its recent funding round at a valuation of $157 billion, including the $6.6 billion the company raised fro...
From the report: It follows news on Wednesday that OpenAI closed its recent funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC all participated. SOFR, a measure of the cost of borrowing cash overnight, sat at just over 5% as of early this week, meaning OpenAI would be paying roughly 6% on money that it borrows right away.
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