PARIS — OpenAI said it has secured a new $4 billion credit facility, in addition to the $6.6 billion investment the AI startup unveiled recently.
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.
The company now has access to over $10 billion in liquidity, OpenAI said in a blog post.
Microsoft-backed facility is planning to restructure its core business into a for-profit benefit corporation no longer controlled by its non-profit board, Reuters reported, even as another senior executive departed.
The ChatGPT-maker could be worth $150 billion after the restructuring, and CEO Sam Altman will also receive equity for the first time, the report added. The news comes as Chief Technology Officer Mira Murati, announced she would leave, following a series of other senior executives.
Here is a list of some notable departures and additions according to Reuterd.
OpenAI had 11 founding members, including Altman and Elon Musk, who were the group’s co-chairs. Only two of the original members, Altman and Wojciech Zaremba are still with the company.
Date Personnel Changes
Feb. 13: Andrej Karpathy, an artificial intelligence researcher and one of the founding members of OpenAI leaves the company. Karpathy in July announced that he was starting an AI-integrated education platform named Eureka Labs.
March 8: CEO Sam Altman returns to OpenAI’s board along with three new directors: Sue Desmond-Hellmann, a former CEO of the Bill and Melinda Gates Foundation, Nicole Seligman, a former president of Sony Entertainment, and Fidji Simo, CEO of Instacart.
Altman was fired from his role in November, with OpeanAI’s board blaming his lack of candor and its need to defend OpenAI’s mission to develop AI that benefits humanity, but swiftly returned as CEO.
May 14: OpenAI co-founder and chief scientist Ilya Sutskever, who was on its board and helped orchestrate Altman’s firing, exits the startup. Safe Superintelligence (SSI), newly co-founded by Sutskever, raised $1 billion in cash to help develop safe artificial intelligence systems in September.
June 10: OpenAI hires Sarah Friar, the former CEO of social media firm Nextdoor, as its first chief financial officer. Also appointed Kevin Weil, who has previously worked at Twitter, Facebook and Instagram, as chief product officer.
Aug. 5: John Schulman, one of the co-founders of OpenAI, departs the ChatGPT maker for rival Anthropic, while the company’s president and co-founder Greg Brockman also took a sabbatical through the end of the year.
Aug. 8: Appoints Zico Kolter, professor and director of the machine learning department at Carnegie Mellon University, to its board. Kolter, whose work predominantly focuses on AI safety, will also join OpenAI board’s safety and security committee.
Sept. 25: Mira Murati, OpenAI’s Chief Technology Officer leaves the firm after six-and-a-half years. She had served as CEO briefly when Altman was sacked by the company’s board.
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