The loan marks BofA’s first credit facility to OpenAI as the AI firm targets a $1 trillion-plus valuation in its upcoming listing.
Bank of America has provided OpenAI with a $520 million credit line, its first loan to the artificial intelligence company as it prepares for an initial public offering. The facility strengthens BofA’s position as a leading financier in AI-related capital markets, where it has helped raise nearly $500 billion since 2025.
OpenAI confidentially filed for a U.S. IPO last month, aiming for a valuation exceeding $1 trillion. The ChatGPT developer’s listing could occur this year, following SpaceX’s record $2 trillion debut in June, where BofA served as a joint bookrunner.
The bank is also pursuing advisory roles on OpenAI’s IPO and Anthropic’s planned listing, expanding its footprint in high-profile AI deals. Mega IPOs typically generate substantial fees for underwriters, reinforcing BofA’s competitive edge in tech financing.