OpenAI secures $4 bn revolving credit line after big funding round

OpenAI has secured a new $4 billion revolving credit line, the ChatGPT maker said on Thursday, a day after it closed a $6.6 billion funding round that cemented its position as one of the most valuable private companies in the world.

The borrowing facility will boost its liquidity to $10 billion, OpenAI said, allowing the startup to buy costly computing capacity, including Nvidia chips, in its race with tech giants such as Alphabet-owned Google.