OpenAI Lands $520 Million Line of Credit From Bank of America

Bank of America has reportedly given OpenAI a $520 million line of credit after denying an earlier request. That’s according to a report Wednesday (July 8) by Bloomberg News, citing sources with knowledge of the matter. The report calls the deal a “notable pivot” by the banking giant, which as recently as last year had shown skepticism about the ability of companies known for heavy capital spending to sustain their business models.