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

aiai-fundraising 5 posts · 5 accounts

Bank of America is providing a $520 million credit line to OpenAI, marking the lender’s first financing commitment to the artificial intelligence developer. The facility is intended to support the company as it prepares for a public listing.

The lending arrangement reverses an earlier decision by the bank to decline initial credit requests from the firm. The new credit line provides capital support as the privately held company advances toward a planned public offering.

From the sources (5 posts)

@zerohedge

*BOFA HANDS $520M CREDIT LINE TO OPENAI IN BID FOR IPO SPOT

@wallstengine

BOFA HANDS $520M CREDIT LINE TO OPENAI IN BID FOR IPO SPOT

@firstsquawk

BOFA PROVIDES A $520 MILLION CREDIT LINE TO OPENAI AS IT PREPARES FOR AN IPO.

@reuters

BofA extends first $520 million loan to OpenAI ahead of IPO, source says

@bloombergtv

Bank of America is changing its tune on OpenAI: after initially passing on lending to the AI company, it is now extending a $520 million credit line. Sridhar Natarajan reports

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