OpenAI Gets $4 Billion in Credit After $6.6 Billion Funding (1)

OpenAI has tapped global banks for a $4 billion revolving line of credit on top of its recent $6.6 billion fundraising, building a massive war chest to stay ahead in the costly race to develop more sophisticated artificial intelligence.

In a statement Thursday announcing the credit facility, the company wrote, “This means we now have access to over $10 billion in liquidity, which gives us the flexibility to invest in new initiatives and operate with full agility as we scale.”

The company said it worked with JPMorgan Chase, Citigroup Inc., Goldman Sachs, Morgan Stanley and several other banks on the ...