Bank of America’s slower AI-debt push weighs on its credit-trading business

Bank of America’s decision to avoid some of the year’s hottest AI financing deals is now showing up in its trading business, as credit traders miss part of a surge in activity tied to data centers and compute infrastructure. Companies building AI infrastructure have issued more than $400 billion of bonds this year, while Bank of America is still trying to catch up with rivals in corporate debt and deliver on a separate $250 billion infrastructure-finance initiative.