Churchy

I am doing a University exchange to UT Austin for 2010 and was looking to get an Investment Banking internship for the summer.
My visa allows it so there are no problems there.
My current GPA is 3.7
Major GPA 3.8
but these should both rise by the end of the year. I would be half way through my final year of my degree when the internship took place.

I am wondering where I should be applying to in my situation, do I have a chance of landing interviews at a BB or should I apply to boutiques, commercial banks etc

BankonBanking

If you are interested in investment banking and not commercial banking, then I would apply to BBs, but you will probably have more luck with regional offices and boutiques. What is your major? Have you been networking? Do you have any past finance IB internship experience? All of these are questions you need to ask yourself to know how good or bad your chances will be. I would recommend that you begin networking immediately with alumni, and start looking for boutiques that might be interested in interns. Make sure your resume is on point and the work experiences that you have are tailored to impress bankers (quant/analysis-focused, results, leadership, etc).