Marketing tech
fromDigiday
8 hours ago'Maybe ChatGPT is a different kind of a place': Why OpenAI is saying no to search budgets - for now
OpenAI is focusing on test budget ad dollars rather than search ad dollars for its new advertising platform.
"I gave them $38 million of essentially free funding, which they then used to create an $800 billion for-profit company. I actually was a fool who created free funding for them to create a startup. I literally was."
The loan itself is one of the most consequential pieces of financing in the current AI boom. Signed on 27 March 2026, it is an unsecured, 12-month bridge facility underwritten by JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking, and MUFG Bank.