11:33 AM EDT, 10/03/2024 (MT Newswires) -- Microsoft ( MSFT )-backed (MSFT) OpenAI said Thursday it secured a new $4 billion revolving credit facility from a group of major banks, providing additional liquidity for investment opportunities.

The ChatGPT developer said it established the facility with JPMorgan Chase ( JPM ) , Citigroup ( C ) , Goldman Sachs (GS), Morgan Stanley ( MS ) , Santander (SAN), Wells Fargo ( WFC ) , SMBC, UBS (UBS), and HSBC ( HSBC ) .

OpenAI said the facility, which is undrawn at closing, is in addition to $6.6 billion in new funding from investors including Microsoft ( MSFT ).

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