Bank of America has extended a $520 million credit facility to OpenAI, marking the first time the lender has provided a loan to the artificial intelligence developer.
The financing comes as the company prepares for an initial public offering, according to a person familiar with the matter cited by Reuters.
SoftBank Group has resumed negotiations with a consortium of lenders to arrange a $10 billion loan secured by its equity stake in the AI company.
The move represents a notable shift in Bank of America’s stance toward the AI firm, which the bank had previously declined to finance.
By extending this credit line, the lender is signaling renewed confidence in OpenAI’s financial trajectory and its ability to service debt ahead of going public.
This development coincides with broader efforts by OpenAI’s backers to secure substantial capital.
SoftBank Group has resumed negotiations with a consortium of lenders to arrange a $10 billion loan secured by its equity stake in the AI company.