BofA grants $520 million credit line to OpenAI

Bank of America has extended a $520 million credit line to OpenAI in recent weeks, providing new financing to the artificial intelligence company. The facility is described as the bank’s first loan to OpenAI and is reported to make Bank of America one of the company’s largest lenders. The move marks a notable engagement between one of the largest US banks and a high‑profile AI startup that has been raising substantial capital.

Reports indicate that the new credit line was arranged after Bank of America previously took more time to conduct due diligence and move the credit decision through internal controls. Executives at the bank had been described as cautious toward money‑losing AI ventures that require heavy capital spending. The fresh commitment signals a change from that earlier stance, at least with respect to OpenAI.

The $520 million credit line comes as OpenAI prepares for a planned initial public offering. The additional financing adds to the company’s existing debt facilities and provides further liquidity ahead of potential public‑market activity. Reporting also notes that Bank of America is considering advisory roles on the planned IPOs of both OpenAI and rival AI company Anthropic, underscoring the bank’s strategic focus on upcoming AI listings.

OpenAI did not immediately respond to a request for comment on the latest loan. The company’s broader financing strategy has included building large revolving credit facilities, which can support operational needs and growth initiatives during a period of rapid expansion for AI services.

In March, OpenAI increased its revolving credit line to $4.7 billion, adding two other banks to that facility. The new Bank of America credit line comes on top of this expanded borrowing capacity, further enlarging the pool of committed bank financing available to the company. These facilities form part of OpenAI’s wider capital structure as it gears up for a potential transition to public markets.

The combination of the larger revolving credit line and the separate $520 million commitment highlights the scale of bank lending now supporting OpenAI. The involvement of multiple large lenders suggests that the company is drawing on a diversified group of financial institutions to support its funding needs.

Beyond the specific loan to OpenAI, Bank of America has become a major player in AI‑related capital markets activity. Since 2025, the bank has helped raise nearly $500 billion in capital for AI‑related companies. This figure accounts for about 60% of such fundraising across investment‑grade debt, leveraged finance, and equity capital markets, based on internal data cited in reporting.

The bank has also financed other parts of the AI ecosystem, such as data center buildouts, reflecting a broader strategy of supporting infrastructure and companies tied to AI growth. The new lending relationship with OpenAI fits into this pattern of expanding exposure to the sector while maintaining internal risk and due‑diligence standards.