Overview
- Bank of America extended the roughly $520 million credit line to OpenAI, according to multiple reports first published on Wednesday and later corroborated by Reuters and other outlets.
- Reports describe the facility as BofA’s first loan to OpenAI and say it makes the bank one of the company’s largest lenders, though exact terms remain undisclosed and unconfirmed by either party.
- BofA is reportedly seeking advisory or underwriting roles on the planned IPOs of OpenAI and rival Anthropic, building on internal data that says the bank helped raise nearly $500 billion for AI-related companies since 2025.
- Pre-IPO credit lines like this are commonly used by banks to lock in future fee business from big listings, and recent large private financings and bridge loans for AI firms have made lenders more sensitive to valuing private AI shares and IPO timing.
- Key uncertainties remain: outlets show minor discrepancies in the reported loan size, there is no public confirmation from OpenAI or BofA, and the final IPO timing and valuation continue to drive market volatility and concentrated exposure for banks and investors.