Conviction found
Suddenly OpenAI looks bankable to Bank of America.
Good morning.
We are reading how Bank of America stumped up a USD520 million credit line to OpenAI shortly after it knocked it back as a customer on risk grounds. But according to Bloomberg that was back when Brian Moynihan reckoned these cash-torching AI outfits couldn’t make the numbers work.
Now, with an IPO in the works, the view of the house of the Thundering Herd has, erm, matured. Surely watching a listing that big go by would sting more than the credit risk ever could.
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