US tech firm OpenAI says it has established a new credit line of as much as 4 billion dollars with nine financial institutions in the US, Japan and other countries.
The announcement on Thursday came a day after the ChatGPT developer said it had secured 6.6 billion dollars from leading investors. Media reports say they include Microsoft, Nvidia and Japan’s SoftBank Group.
Developing generative AI requires huge funds and competition is heating up. OpenAI was reportedly planning to turn itself into a for-profit company.
The firm says the support means it can continue investing in groundbreaking research and products that bring AI to the world.