# OpenAI Secures $10.6 Billion in Fresh Capital and Credit

OpenAI announced a major financial boost, combining $6.6 billion in new investor funding with a $4 billion credit facility from nine major banks.

The AI company, known for ChatGPT, revealed the dual financing arrangement in a recent statement. The credit facility includes backing from financial heavyweights JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC.

This financial structure gives OpenAI access to over $10 billion in total capital, providing significant runway for its operations and development efforts. The credit facility functions as a safety net, allowing the company to borrow funds as needed rather than taking all the money upfront.

**Why it matters:** OpenAI's massive capital raise underscores the intense competition