Artificial intelligence (AI) company and creator of ChatGPT, OpenAI, has received a $4B revolving credit line. This is on top of the $6.6B funding round it closed a day prior, bringing the company's liquidity to $10B.

OpenAI, whose latest investors include JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC, has the option for an additional $2B on top of the $4B over three years.

The company is now valued at an estimated $157B, with its latest investment round being used to buy compting power from companies like Microsoft to develop its products.

It told its latest investors, which also include Tiger Global Management, Cathie Wood's Ark, Nvidia, Fidelity, and a United Arab Emirates government-backed firm, that it doesn't want them to invest in its competitors, such as Anthropic.

OpenAI, which will also use the money to buy graphics processing units (GPUs) from Nvidia, increased its revenue to $300M last month, up 1,700% from the the beginning of 2023. Its sales are reportedly expected to jump from $3.7B this year to $11.6B next year.

However, despite tripling its user base to 350M people, it's also expected to lose over $11B next year. This also comes as the company has lost key executives and researchers as it shifts from nonprofit to for-profit status.

OpenAI Receives $4B Line of Credit

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OpenAI Receives $4B Line of Credit

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