Bank of America gives OpenAI $520 million credit, $1T valuation possible
Business
Bank of America just handed OpenAI, also known as the folks behind ChatGPT, a $520 million credit line as the AI giant gets ready for a potential IPO later this year.
If all goes to plan, OpenAI's public debut could push its value past a staggering $1 trillion.
BofA raised nearly $500B for AI
This move makes BofA one of OpenAI's top lenders and highlights how much the bank is betting on artificial intelligence.
Since 2025, BofA has helped raise nearly $500 billion for AI companies, about 60% of all major fundraising in this space.
The bank also wants in on advising big upcoming IPOs like OpenAI and Anthropic, after its lead role in SpaceX's huge listing in June.