OpenAI Secures $4 bln Credit Facility

The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)
The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)
TT
20

OpenAI Secures $4 bln Credit Facility

The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)
The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)

OpenAI said on Thursday it has secured a new $4 billion credit facility, in addition to the $6.6 billion investment the AI startup unveiled on Wednesday.

The revolving credit facility that is undrawn at closing has been established with JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS and HSBC, Reuters reported.

The company now has access to over $10 billion in liquidity, OpenAI said in a blog post.



Huawei Eyes Greater Role in Brazil Data Center Market

Huawei logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)
Huawei logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)
TT
20

Huawei Eyes Greater Role in Brazil Data Center Market

Huawei logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)
Huawei logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)

Chinese tech giant Huawei is interested in strengthening and improving its capacity as a supplier of data center solutions, it said in a statement to Reuters on Thursday, clarifying that it did not intend to invest directly in data centers.

Reuters had reported on Wednesday that Huawei was interested in Brazil's data center market but was waiting on the government to roll out a tax-break plan.

"We want the government to implement these incentives, which are good for the country, and the time has to be now," Atilio Rulli, Huawei vice president of public relations for Latin America and the Caribbean, told Reuters.

The government's plan to dole out tax breaks for tech investments in Brazil is set to be sent to Congress soon, a finance ministry adviser said last month.

Latin America's largest economy is looking to establish a foothold in the fast-growing data center industry, pulling from its ample renewable energy.

The country is already courting major investments from firms such as ByteDance, TikTok's Chinese parent company, Reuters has reported.

Huawei could provide connectivity, storage and energy for data centers, Rulli said, speaking on the sidelines of an event hosted by state development bank BNDES.

"Huawei continues to follow the incentive policy being conducted by the Ministry of Development, Industry, Trade and Services, and when in force, will continue to contribute reliable, scalable and sustainable solutions to accelerate the digital transformation in Brazil and Latin America," Huawei said in the statement on Thursday.