Overview
- Bank of America, which extended a $520 million line of credit to OpenAI on Wednesday, became one of the AI firm's largest lenders according to Reuters reporting.
- The credit line was first reported by Bloomberg and detailed by Reuters and PYMNTS, and neither Bank of America nor OpenAI has publicly confirmed the arrangement.
- The loan is BofA's first to OpenAI and positions the bank to compete for advisory and underwriting work if OpenAI or rival Anthropic proceed with large U.S. listings.
- Lenders face higher risk because private AI stakes are hard to value and sell, a concern sharpened by recent bridge financing such as SoftBank's multimillion-dollar draw to cover OpenAI exposure.
- Bank of America says it has helped raise nearly $500 billion for AI-related companies since 2025, a market share that helps explain why banks are racing to secure pre-IPO ties with major AI firms.