Bank of America commits $250 billion to AI and energy infrastructure

Bank of America plans to deploy $250 billion through July 2027 to finance U.S. data centers, energy and critical minerals, joining Morgan Stanley in a wave of bank capital pledges targeting national infrastructure.

"Meeting America's growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors," said Karen Fang, co-head of global capital solutions at Bank of America. "Delivering these projects requires integrated financing solutions spanning corporate and project-level capital in both public and private markets."

The 18-month initiative, running from Jan. 1, 2026, through July 4, 2027, spans three categories: digital infrastructure including data centers and computing, energy and power infrastructure covering renewable generation and storage, and core infrastructure such as transportation and natural gas. The bank said the effort could create tens of thousands of jobs across construction, manufacturing and technology operations.

The pledge comes days after Morgan Stanley said it would facilitate roughly $1.5 trillion over the next decade for technology and infrastructure projects. Bank of America's commitment is measured against a methodology consistent with its existing $1.5 trillion, 10-year sustainable finance goal, and the bank's Global Capital Solutions and Global Infrastructure & Sustainable Finance teams will lead the effort with support from all eight lines of business.

Banks Race to Finance the Infrastructure Boom

The announcement reflects how major U.S. financial institutions are seeking to capitalize on a domestic boom in AI data centers, mining of critical minerals and modernization of energy infrastructure. Bank of America, the second-largest bank in the nation by assets, said the initiative would involve lending and investing, as well as capital markets, banking and advisory work.

"We are proud of our long history supporting the American economy. As America marks its 250th year, this initiative reflects our confidence in the country's future and the investments that will shape it," said Jim DeMare, co-president at Bank of America. "The infrastructure that powers our economy, strengthens our energy security and secures our technological leadership will drive growth, create jobs and define America's next chapter."

The bank also pointed to its workforce-development efforts. In 2025, Bank of America invested nearly $40 million in more than 730 workforce-development partners across 97 U.S. markets. Those organizations estimate the funding helped connect more than 90,000 people with employment opportunities and provided more than 290,000 people with access to training, education and career-readiness programs.

Bank of America shares rose 0.22 percent to $64.00 on Wednesday following the announcement. The initiative's 18-month measurement window aligns with the start of America's 250th year, a symbolic framing that shows how banks are competing for a role in national economic strategy.

The scale of these commitments reflects the capital intensity of the current infrastructure cycle. AI data centers require massive power, water and cooling infrastructure, while semiconductor fabrication plants cost billions each. Banks are competing to finance these projects as traditional lending growth slows, making infrastructure a strategic growth area for balance sheet deployment. The last comparable wave of bank-led infrastructure financing came after the 2008 financial crisis, when major lenders deployed capital into energy and transportation projects as part of the post-crisis recovery.

For Bank of America, the initiative also serves as a strategic response to shifting capital demands. The bank's existing $1.5 trillion sustainable finance goal, announced in 2021, has been a template for how it structures large-scale financing commitments. The new infrastructure initiative extends that framework into the AI and energy transition era, where project sizes are larger and financing needs more complex. With the 18-month window ending on July 4, 2027, the bank will need to move quickly to convert the pledge into actual lending and investment activity.

This article is for informational purposes only and does not constitute investment advice.