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OpenAI secures $4 billion loan on top of $6.6 billion funding round

Matthias Bastian
Matthias Bastian View the LinkedIn Profile of Matthias Bastian
Oct 3, 2024

OpenAI has secured a $4 billion loan on top of its recent $6.6 billion funding round. CNBC reports that the loan can be increased by $2 billion and carries an estimated 6% interest rate. This new credit line boosts OpenAI's available cash to over $10 billion. CFO Sarah Friar stated the additional liquidity will provide flexibility for investing in further growth. The loan comes on top of OpenAI's massive $6.6 billion funding round announced earlier. Together, these financial moves give the AI company a pretty impressive war chest as it continues to grow fast.

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