Key facts
- Bank of America has provided OpenAI with a $520 million credit line.
- This is BofA's first loan to the AI company.
- OpenAI is preparing for an initial public offering.
- BofA is also pursuing advisory roles for OpenAI's IPO.
- OpenAI is targeting a valuation exceeding $1 trillion for its listing.
Bank of America has provided OpenAI with a $520 million credit line, marking its first loan to the artificial intelligence company as it prepares for a potential initial public offering. This move positions BofA as one of OpenAI's largest lenders and strengthens its standing in AI-related capital markets financing.
According to internal data, BofA has facilitated nearly $500 billion in capital for AI companies since 2025, representing 60% of fundraising across various markets. The second-largest U.S. lender is also reportedly seeking advisory roles for the planned IPOs of both OpenAI and Anthropic.
This follows BofA's involvement in SpaceX's significant IPO, where it served as a joint bookrunner. OpenAI, a key player in the AI race, confidentially filed for a U.S. IPO last month and is reportedly targeting a valuation exceeding $1 trillion for a listing that could occur this year. Mega IPOs are typically highly profitable for Wall Street banks, generating substantial fees and future business opportunities.