Bank of America aims to raise and deploy $250 billion by 4 July 2027 to finance US infrastructure. The programme covers data centres, semiconductors and telecommunications, energy and energy storage, as well as transmission networks, transport, water and projects relating to critical minerals.
The scale is substantial, but the $250 billion does not consist solely of new loans or capital from the bank’s balance sheet. Investments, capital market transactions and advisory services will also count towards the target. The bank estimates that the initiative could support the creation of tens of thousands of jobs.
Bank of America’s move is part of a wider competition on Wall Street to serve the investment boom centred on AI, energy and strategic infrastructure. On 10 August, Morgan Stanley announced a programme worth approximately $1.5 trillion over a ten-year period. JPMorgan Chase is running an initiative of the same value, targeting, amongst other things, the energy sector, AI, defence and strategic technologies.
Energy may prove to be the most significant constraint. According to the US EIA, data centre servers accounted for around 7 per cent of electricity consumption in the commercial sector in 2025, and their share is set to rise significantly. The development of AI therefore depends increasingly not only on chips and software, but also on new generation capacity and grid infrastructure.
For the US economy, greater access to finance could accelerate investment and infrastructure modernisation. At the same time, it increases the financial sector’s exposure to capital-intensive technology projects and puts pressure on the energy system. For banks, this in turn presents an opportunity to generate long-term revenue from financing, advisory services and the subsequent refinancing of new assets.
