OpenAI Raises $4B for Business AI Joint Venture
OpenAI Raises $4B for Business AI Joint Venture
Publish Date: 2026-05-04 11:01:00
Source Domain: www.wealthmanagement.com
OpenAI has raised more than $4 billion for a new joint venture that will focus on helping businesses adopt its artificial intelligence software, according to a person familiar with the matter.
The new venture, called The Deployment Company, drew backing from 19 investors, including TPG Inc., Brookfield Asset Management, Advent and Bain Capital, said the person, who spoke on condition of anonymity as the information is not public.
The deal values the company at $10 billion, not including the money, the person said. The venture will be majority-owned and controlled by OpenAI, the person said.
Other partners include Dragoneer Investment Group and SoftBank Group Corp., among others, the person said, as well as a mix of consulting firms. Bloomberg News previously reported OpenAI was in discussions for the joint venture.
Spokespeople for OpenAI and TPG declined to comment. Representatives for the other partner companies did not immediately respond to requests for comment.
OpenAI and rival Anthropic PBC have been racing to convince more businesses to pay for their AI software as both move closer to initial public offerings, expected as soon as this year.
On Monday, Anthropic announced it is partnering with Blackstone Inc., Hellman & Friedman and Goldman Sachs Group Inc. to form a new company that will bring artificial intelligence to a broad group of midsize companies.
The enterprise services firm will deploy Claude into companies’ core business operations, according to a statement.
Apollo Global Management Inc. is also backing the new firm along with fellow alternative asset managers General Atlantic, Leonard Green & Partners, GIC and Sequoia Capital.
The new firm will deploy AI across companies owned by the asset managers backing it, as well as firms not owned by those asset managers.
“Enterprise demand for Claude is significantly outpacing any single delivery model,” Krishna Rao, chief…
