Bank of America extended its first-ever loan to OpenAI, a $520M credit line, ahead of the AI company’s planned public offering, according to a source who spoke to Reuters. OpenAI now counts BofA among its largest lenders, a position the bank has built while helping raise nearly $500 billion for AI-related companies since 2025. BofA is also seeking advisory roles on the planned IPOs of both OpenAI and Anthropic, and recently helped run SpaceX’s record $75 billion-plus listing in June. OpenAI confidentially filed for a US IPO last month and is targeting a valuation above $1 trillion, in a listing that could come as soon as this year and generate hundreds of millions in fees for the banks involved.
