OpenAI, the developer of ChatGPT, has secured a revolving credit facility worth $4 billion (approximately 5.3 trillion KRW) following an investment round of about $6.6 billion.
On the 3rd (local time), OpenAI announced the credit line acquisition through a post on its official website. This is a revolving credit that allows borrowing and repayment within the credit limit as needed. Major financial institutions participating in this credit facility include JP Morgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC. The financial media CNBC reported, "In addition to the base credit limit of $4 billion, there is an option to increase it by an additional $2 billion," adding that "it is an unsecured loan available for three years."
As a result, OpenAI can now secure liquidity exceeding $10 billion (approximately 13.25 trillion KRW). OpenAI stated, "We now have access to liquidity exceeding $10 billion. This will provide us with the flexibility to invest in new initiatives and operate agilely," and added, "We will use these funds for research and product development, infrastructure expansion, and talent acquisition."
This announcement came just one day after OpenAI raised $6.6 billion from investors in the largest venture round in its history. OpenAI's valuation soared to $157 billion (approximately 207.95 trillion KRW), expanding more than fivefold in just one year. The funding round, led by Strive Capital, included participation from Microsoft (MS) and Nvidia, who had previously invested $13 billion, as well as UAE investment firm MGX, Japan's SoftBank Vision Fund, venture capital firm Kosla Ventures, and Fidelity.
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