Bank of America Bankrolls AI Ventures After Initial Skepticism

Bank of America is ramping up investments in artificial intelligence ventures after initially being skeptical of the industry’s prospects, Bloomberg reported Monday (Sept. Until last year, Bank of America had been wary of AI companies’ ability to sustain their money-losing enterprises amid all their capital spending, according to the report. That changed in July when Bank of America provided a $520 million credit line to OpenAI.