What is Bank of America?
Bank of America Corporation is an American multinational investment bank and financial services holding company formed in 1998 through the merger of NationsBank and BankAmerica, and is the second-largest banking institution in the United States by consolidated assets. Its research estimates have featured in recent discussion of data-center power demand and consumer adoption of artificial intelligence.
Company timeline
- Jun 2026 - Jim Chanos said Bank of America was among the large enterprises, alongside AT&T, Merrill Lynch and Coca-Cola, that were the biggest spenders on networking equipment in an earlier era, calling the notion that other players led that spending a myth.
- Sep 2026 - Bank of America estimated that only 3.3% of American households hold a paid subscription to AI.
- Sep 2026 - Edwin Finney said Bank of America estimates only about 93 gigawatts of power plants will be built in the next five years across all resources, against roughly 230 gigawatts of data-center interconnection applications over the same period.
Where it appears in the record
Every line below is attributed to a named speaker.
230 GW of data center interconnection applications are pending over the next five years, while Bank of America estimates only 93 GW of all new generation (solar, wind, gas) will be built in that period, a roughly 2.5x supply gap.
“There are 230 gigawatts of interconnection for data centers, interconnection applications for data centers. that is that's over like the next five years and the Bank of America estimates that we are only going to build about 93 gawatt of power plants in the next 5 years and that includes all resources solar wind and gas.”Edwin Finney · 8 Sep 2026
The biggest spenders in the 1999 to 2000 telecom boom were large enterprises like AT&T, Merrill Lynch, Bank of America, and Coca-Cola, not dot-coms or fiber companies.
“The biggest spenders back then is a myth by the way the biggest spenders back then were enterprises were big companies like AT&T Maril Lynch Bank America Coca-Cola who were networking their equipments to talk to each other.”Jim Chanos · 20 Jun 2026
Only 3.3% of U.S. households pay for AI, challenging narratives of mass AI adoption even as fears about workforce displacement dominate policy debate.
“According to Bank of America, only 3.3% of Americans 3.3% of American households have a paid subscription to AI.”<UNKNOWN> · 17 Sep 2026
Bank of America data: only 3.3% of American households have a paid subscription to AI.
“According to Bank of America, only 3.3% of Americans 3.3% of American households have a paid subscription to AI.”<UNKNOWN> · 17 Sep 2026