OpenAI gets $4 billion revolving credit line, giving it more than $10 billion in liquidity

OpenAI has secured a $4 billion revolving line of credit, bringing its total liquidity to over $10 billion. This follows a recent funding round that valued the company at $157 billion, with participation from major investment firms and tech companies. The credit line can be increased by an additional $2 billion and the loan is unsecured with an interest rate based on the Secured Overnight Financing Rate. The company plans to use the funds for research, product development, infrastructure expansion, and talent acquisition. Despite significant revenue growth, OpenAI expects to lose $5 billion this year due to high costs. The company has faced executive departures and discussions about potentially restructuring to a for-profit business, but details are still being finalized.