Bank of America bets big on AI after initial hesitation
Bank of America shifts from AI skepticism to $250 billion US infrastructure investment
In brief
Bank of America shifts from AI skepticism to $250 billion US infrastructure investment Bank of America now funds 60% of AI capital markets deals after initially doubting AI's viability Originally reported by Pymnts.
Bank of America's AI shift
Bank of America moved from AI skepticism to providing $520 million credit line to OpenAI in July 2026
“Bank of America helped raise close to five hundred billion dollars in capital for AI-related firms since 2025”
Major infrastructure commitment
The bank committed $250 billion for US data centers and computing infrastructure through 2027
AI capital market leader
Bank of America accounts for 60% of AI-related capital markets deals since 2025
SpaceX involvement
Bank of America served as joint bookrunner for SpaceX's public listing in 2026
AI debt surge
Top US AI companies doubled their debt over five years to fund data centers
At a glance
Bank of America now funds 60% of AI capital markets deals after initially doubting AI's viability
