Keeping ChatGPT running is expensive as heck, so OpenAI needs access to plenty of cash to make sure the lights stay on. A day after the company said it had secured $6.6 billion in funding — the biggest ever funding round for a startup — it confirmed that it has a new $4 billion revolving line of credit. OpenAI has yet to tap the credit line, which it obtained from JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS and HSBC. Some of those banks are also among OpenAI’s customers.

All told, OpenAI now has a war chest of over $10 billion in liquid funds. The company says that will give it the ability to invest in new projects and research, expand its infrastructure and hire top talent. “This credit facility further strengthens our balance sheet and provides flexibility to seize future growth opportunities,” OpenAI CFO Sarah Friar said.

Microsoft has launched Drasi, a new open-source data processing system designed to simplify the detection and reaction to critical events in complex infrastructures.

This release follows last year’s launch of Radius, an open application platform for the cloud, and further cements Microsoft’s commitment to open-source innovation in cloud computing.

Mark Russinovich, CTO and Technical Fellow at Microsoft Azure described Drasi as “the birth of a new category of data processing system” in an interview with VentureBeat.

He explained that Drasi emerged from recognizing the growing complexity in event-driven architectures, particularly in scenarios like IoT edge deployments and smart building management.

From complexity to clarity

“We saw massive simplification of the architecture, just incredible developer productivity,” Russinovich said, highlighting Drasi’s potential to reduce the complexity of reactive systems.

Drasi works by continuously monitoring data sources, evaluating incoming changes through predefined queries and executing automated reactions when specific conditions are met.

This approach eliminates the need for inefficient polling mechanisms or constant data source querying, which can lead to performance bottlenecks in large-scale systems.

The system’s key innovation lies in its use of continuous database queries to monitor state changes. “What Drasi does is takes that and says, I just have a database query… and when an event comes in… Drasi knows, ‘Hey, part of this query is satisfied,’” Russinovich explained.

Open-source synergy

Microsoft’s decision to release Drasi as an open-source project aligns with its broader strategy of contributing to the open-source community, particularly in cloud-native computing.

This strategy is evident in the recent launch of Radius, which addresses challenges in deploying and managing cloud-native applications across multiple environments.

“We believe in contributing to the open-source community because… many enterprises are making strategies that are, especially around Cloud Native Computing, centered on open-source software and open governance,” Russinovich said.

The Azure Incubations team, responsible for both Drasi and Radius, has a track record of launching successful open-source projects including Dapr, KEDA and Copacetic. These projects are all available through the Cloud Native Computing Foundation (CNCF).

While Radius focuses on application deployment and management, Drasi tackles the complexities of event-driven architectures. Together, these tools represent Microsoft’s holistic approach to addressing the challenges faced by developers and operations teams in modern cloud environments.

Drasi’s continuous queries usher in a new era of reactive systems

Looking ahead, Russinovich hinted at the possible integration of Drasi into Microsoft’s data services. “It looks like it’ll probably slot into our data services, where you have Drasi integrated into Postgres database or Cosmos DB, or as a standalone service that integrates across these,” he said.

The introduction of Drasi could have significant implications for businesses grappling with the complexities of cloud-native development and event-driven architectures. By simplifying these processes, Microsoft aims to enable organizations to build more responsive and efficient applications, potentially leading to improved operational efficiency and faster time-to-market for new features.

As with Radius, Microsoft is actively seeking feedback from partners and early adopters to refine Drasi and address any scaling, performance, or security concerns that may arise in production environments. The true test for both tools will be their adoption and performance in real-world scenarios across various cloud providers and on-premises environments.

As businesses increasingly rely on cloud-native applications and real-time data processing, tools like Drasi and Radius could play a crucial role in managing the growing complexity of modern software systems.

Whether Drasi will indeed establish itself as a new category of data processing system, as Russinovich suggests, remains to be seen, but its introduction marks another significant step in Microsoft’s ongoing efforts to shape the future of cloud computing through open-source innovation.

In a world where tech trends often create a frenzy of investments, the temptation to follow the crowd can be overwhelming. But the business of trends is a dangerous game. When everyone is diving headfirst into the latest “next big thing,” the risk of falling off a cliff without genuine understanding grows exponentially. 

Join us in welcoming Pegah Ebrahimi, co-founder and managing partner at FPV Ventures; Harry Tannenbaum, co-founder and president of Mill; and Natalie Sportelli, director at Bullish to TechCrunch Disrupt 2024. They’ll take to the Builders Stage to explore how founders and investors can discern true opportunities from the hype, avoiding the fate of blindly following the masses.

Disrupt 2024, taking place from October 28-30 at Moscone West in San Francisco, brings together these three dynamic leaders who understand how to precisely navigate this hype-heavy landscape. From innovative ventures in climate tech to consumer brands that buck the trend, these speakers will share their strategies for building businesses that soar.

Meet the speakers

Pegah Ebrahimi, co-founder and managing partner at FPV Ventures

Pegah Ebrahimi has extensive experience in guiding founders to success by building robust go-to-market strategies. With an impressive background as the youngest global CIO at Morgan Stanley Investment Banking and COO of Cisco’s multi-billion-dollar SaaS business, Pegah knows how to identify genuine opportunities amid the noise. As an adviser or investor in a diverse range of category-defining startups, including Snyk, Canva, and DataRobot, she helps founders rise above the lemming mentality to build sustainable, scalable businesses.

Harry Tannenbaum, co-founder and president of Mill

Harry Tannenbaum is no stranger to tackling big challenges. As co-founder and president of Mill, Harry has built an entirely new system to prevent waste, starting with food, to reimagine the role of the kitchen when it comes to sustainable living. Drawing on his experience leading analytics and scaling at Nest, Harry brings a deep understanding of how to create enduring consumer products. At Disrupt 2024, he’ll share his journey of building transformative solutions that make a lasting impact, instead of merely following trends.

Natalie Sportelli, director at Bullish

Natalie Sportelli has a keen eye for identifying the next big thing in the consumer space. Her experience at Thingtesting, Lerer Hippeau, and now Bullish — a creative agency and early-stage venture capital firm — equips her with a cultural lens to evaluate emerging businesses and pinpoint true market disruptors. Natalie’s expertise lies in balancing creativity with sound business strategies, helping early-stage consumer brands stand apart from the rush of short-lived trends and achieve long-term growth. She’ll discuss how consumer startups can stand out, stay the course, and build lasting value even when everyone else is heading toward the cliff’s edge.

Don’t miss the hype at Disrupt 2024

Join these thought leaders at Disrupt 2024 to uncover how to rise above the hype and make informed, strategic decisions for your startup. Don’t follow the crowd; learn how to lead it. Get your tickets here at a discounted rate and be part of the conversation that will redefine what it means to build and invest in lasting ventures.