Bank of America Extends $520 Million Credit Line to OpenAI Ahead of IPO

Jul 8, 2026

Bank of America has extended a $520 million credit line to OpenAI, its first loan to the company, positioning itself for a key advisory role in OpenAI's upcoming IPO. The AI firm, which confidentially filed in June 2026, is targeting a valuation over $1 trillion. The move underscores BofA's leadership in AI financing, where it has helped raise nearly $500 billion for related companies since 2025.

Bank of America credit line

▪The loan makes Bank of America one of OpenAI's largest lenders.
▪Bank of America has extended a $520 million credit line to OpenAI, its first loan to the AI company.

OpenAI IPO preparations

▪OpenAI was founded in 2015 as a nonprofit and created a for-profit arm in 2019 to fund the development of its AI systems.
▪The ChatGPT maker is targeting a valuation of more than $1 trillion in a listing that could happen as soon as 2026.
▪OpenAI confidentially filed for a U.S. initial public offering in June 2026.

BofA AI financing leadership

▪Bank of America previously served as a joint bookrunner for SpaceX's IPO, leading the U.S. retail distribution.
▪Since 2025, Bank of America has helped raise nearly $500 billion in capital for AI-related companies.
▪Bank of America's fundraising accounts for 60% of the market across investment-grade debt, leveraged finance, and equity capital markets.

Wall Street advisory competition

▪Mega IPOs can generate hundreds of millions of dollars in fees for Wall Street banks and lead to years of follow-on business.
▪Bank of America is seeking advisory roles on the planned IPOs of both OpenAI and Anthropic.