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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)
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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.

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Germany Says Aims to be World Leader in Quantum Technologies

German Chancellor Olaf Scholz stands next to a Quantum system during the inauguration of IBM's quantum data center at the IBM Campus in Ehningen, southern Germany, on October 1, 2024. (Photo by SILAS STEIN / AFP)
German Chancellor Olaf Scholz stands next to a Quantum system during the inauguration of IBM's quantum data center at the IBM Campus in Ehningen, southern Germany, on October 1, 2024. (Photo by SILAS STEIN / AFP)
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Germany Says Aims to be World Leader in Quantum Technologies

German Chancellor Olaf Scholz stands next to a Quantum system during the inauguration of IBM's quantum data center at the IBM Campus in Ehningen, southern Germany, on October 1, 2024. (Photo by SILAS STEIN / AFP)
German Chancellor Olaf Scholz stands next to a Quantum system during the inauguration of IBM's quantum data center at the IBM Campus in Ehningen, southern Germany, on October 1, 2024. (Photo by SILAS STEIN / AFP)

German Chancellor Olaf Scholz vowed to support the development of quantum technologies, saying at the opening of an IBM data center on Tuesday that investment in the sector was crucial for the future of Europe's biggest economy.

"Our goal is clear: to be global leader in quantum technologies," said Scholz, adding Germany had invested 2 billion euros ($2.22 billion) on quantum technology since 2020.

"This is the basis of our economic success and prosperity," he said at the opening of IBM's Quantum European Data Center in Ehningen, a roughly 290-million-euro investment. The center will allow users in Europe and elsewhere to access services for cloud-based quantum computing research, Reuters reported.

Quantum computers could operate millions of times faster than advanced supercomputers. So far, the United States and China have led the technology.

Other projects in Germany include the joint development of quantum processors by Infineon and eleQtron GmbH.
Scholz said Germany was focused on semiconductors, AI, pharmaceuticals and bio- and climate technologies.
"These are the areas we need to lead," said Scholz.