BofA Makes U-Turn on OpenAI, Provides $520M Credit Line

We're saying that this is a u-turn. Give us the backstory. Well, it is an interesting clash.The AI sector right now is represented by companies like OpenAI, high growth, massive cash burn companies that are dominating the sector. And on the other hand, you have the old god of Wall Street, Bank of America, the second largest lender in The United States that is defined by its responsible growth mantra. So when a company like that comes out and ask for a credit line, you can see why that bank would be reticent ...