Bank of America credit traders are facing limited inventory and reduced client flows due to the bank's decision to avoid many high-profile debt deals related to artificial intelligence infrastructure in 2026.
The total volume of bonds issued for AI infrastructure this year has exceeded $400 billion. While competitors have capitalized on this market, Bank of America has maintained a more selective approach.
CEO Brian Moynihan continues to follow a strategy of responsible growth, which emphasizes risk assessment and human oversight. The bank has participated in select projects, such as those involving Oracle, but has avoided becoming a primary underwriter for the broader sector.
As a result of this conservative stance, the bank's trading revenue has remained flat. Management views AI infrastructure debt as a new asset class with untested long-term credit quality and potential operational risks in data centers and power contracts.
