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OpenAI Establishes New $4B Credit Facility with JPMorgan Chase and Other Banks

October 07, 2024, 08:00 AM
Filed Under: Technology

OpenAI established a new $4 billion credit facility with JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC. This revolving credit facility that is undrawn at closing.

OpenAI now has access to over $10 billion in liquidity, which gives the company the flexibility to invest in new initiatives and operate with full agility as it scales. It also reaffirms OpenAI's 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.”





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