BofA extends first $520 million loan to OpenAI ahead of IPO
Bank of America has extended a $520 million credit line to OpenAI, its first loan to the AI company that is preparing for an initial public offering, a person familiar with the matter told Reuters on Wednesday.
The loan makes BofA one of OpenAI’s largest lenders and bolsters its credentials as a market leader in AI-related capital markets financing, the source said, requesting anonymity to discuss confidential information.
