OpenAI announces $4B credit facility, allowing access to over $10B in liquidity

OpenAI announced that in addition to securing $6.6B in new funding from investors, it has established a new $4B credit facility with JPMorgan Chase (JPM), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), Santander (SAN), Wells Fargo (WFC), SMBC (SMFG), UBS (UBS), and HSBC (HSBC). This is a revolving credit facility that is undrawn at closing. OpenAI said: “This means we now have access to over $10B in liquidity, which gives us the flexibility to invest in new initiatives and operate with full agility as we scale. It also reaffirms our partnership with an exceptional group of financial institutions, many of whom are also OpenAI customers.” “This credit facility further strengthens our balance sheet and provides flexibility to seize future growth opportunities,” said Sarah Friar, CFO of OpenAI. “We are proud to have the strongest banks and investors in the world supporting us.”