Bank of America Stock Drops 2.61%; Lender Offers $520-million Loan to OpenAI Before IPO

Mumbai, July 9: Bank of America Corp (NYSE: BAC) finished Wednesday down $1.56 at $58.30. The Bank of America Corp stock price fell 2.61% on Wednesday as trading concluded in the US. The stock price of Bank of America Corp was one of the biggest decliners for the session after shedding value for two straight days as it comes off highs set earlier in the week. The sell-off put a temporary end to several straight sessions of gains that had moved the stock closer to another 52-week high.

Bank of America Corp traded between an intraday low of $58.30 and an intraday high of $59.57. Shares closed near their lows for the session and trended lower throughout the day as buyers failed to step in to stem losses into the close.

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Volume remained heavy throughout the day, with about 29.8 million shares traded. Volume like that typically indicates significant investor interest in the security and can often accompany larger moves in either direction.

Bank of America Corp stock price has pulled back sharply from the 52-week high of $60.83 set just last week on July 7, 2026, but is trading comfortably above the yearly low of $44.75 set back on August 5, 2025. Even with Wednesday’s notable decline, Bank of America Corp Stock price is now closing in on the 52-week high after running up sharply from the lows of last year. Shares have retraced less than 25% of the upward move from last summer’s lows. This is a quick look at how shares have traded over the last week.

Bank of America Corp. Stock Price Weekly Chart

The weekly chart shows Bank of America Corp. climbing from the $57 area at the beginning of July toward a high just under $59.7 by July 6 after climbing in a series of wins at the start of the month. The advance stalled around the July 7 high before Wednesday’s larger decline cut into most of the week’s gain and bring prices back toward the starting level at the beginning of the week.

Bank of America Extends Loan to OpenAI

Bank of America has provided OpenAI, which is expected to go public soon, with its first credit facility worth $520 million, according to Reuters on Wednesday from a person who is aware of the situation.

BofA has become one of OpenAI’s primary lenders as a result of the loan, giving it an edge in AI-related capital markets financing, according to the source who asked not to be identified because the information is sensitive. Since 2025, BofA has assisted AI-related businesses in raising nearly $500 billion in capital, accounting for 60 per cent of total fundraising for companies in investment-grade debt, leveraged finance, and equity capital markets, according to internal data reviewed by Reuters.

BofA is also considering participating in the IPOs of OpenAI and Anthropic as advisors, according to another person who knows about the matter.

Source:

• https://www.nyse.com/quote/XNYS:BAC