OpenAI secures $520M credit line from Bank of America

By the Editorial Team · Thursday, July 9, 2026

Bank of America has provided OpenAI with a $520 million credit line, marking its first loan to the AI company as it prepares for a potential IPO. This move establishes Bank of America as a key lender and advisor in AI capital markets, supporting OpenAI’s plans for a public listing that could value the company at over $1 trillion.

Bank of America has extended a $520 million credit line to OpenAI, marking its first loan to the artificial intelligence company as it prepares for a potential initial public offering (IPO), according to a person familiar with the matter. This financing positions Bank of America as one of OpenAI’s largest lenders and underscores its growing role in AI-related capital markets.

Since 2025, Bank of America has played a significant part in raising capital for AI companies, facilitating nearly $500 billion in funding across investment-grade debt, leveraged finance, and equity capital markets. The bank’s share of this fundraising activity amounts to approximately 60 percent, highlighting its dominance in the sector, according to internal data reviewed by Reuters.

In addition to the credit line, Bank of America is reportedly seeking advisory roles for the anticipated IPOs of both OpenAI and Anthropic, another AI company. This follows the bank’s prominent involvement in other major technology offerings, including SpaceX’s highly anticipated IPO. Acting as joint bookrunner and leading the U.S. retail distribution for SpaceX, Bank of America contributed to a public debut valuing the company at over $2 trillion, making it the largest IPO on record.

OpenAI confidentially submitted its IPO registration paperwork last month, with reports indicating it aims for a valuation exceeding $1 trillion. The soft launch of the filing suggests the company is targeting a public listing within 2026, though no official timeline has been confirmed.

Mega IPOs of this scale have traditionally yielded substantial fees for underwriting banks and often pave the way for long-term business relationships. OpenAI, known for its widely used ChatGPT platform, has become a central figure in the global AI race, attracting extensive investor interest.

OpenAI has not issued a public comment regarding the credit line or its IPO plans. The announcement of Bank of America’s financing was initially reported by Bloomberg on Wednesday before confirmation by Reuters sources.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.