OpenAI, Anthropic Pursue Private Equity to Raise Capital, Push Enterprise AI
In Focus
- A joint venture approach could lower the cost of customizing AI agents for customers
- OpenAI is offering private equity firms a 17.5% in guaranteed minimum return
- Anthropic is holding joint venture talks with Blackstone and other firms
OpenAI is offering a better deal to private equity firms than Anthropic, MSN reported. As part of its AI strategy, OpenAI is offering private equity firms 17.5% in guaranteed minimum returns. The AI developer is reaching out to buyout firms with the aim of forming joint ventures to enable them to raise capital and fast-track AI adoption in enterprise businesses.
OpenAI Competes with Anthropic for Enterprise Clients
In recent months, OpenAI has intensified its focus on enterprise clients, an audience that Anthropic has been targeting from the start. Earlier this year, the ChatGPT maker launched Frontier, a platform that serves as an intelligence layer that combines data and disparate systems. OpenAI targets enterprises with this agentic platform.
In February 2026, the AI developer partnered with four global consulting firms to support enterprises in integrating AI agents into core processes like sales, customer service, and software development.
With the new private equity strategy, OpenAI is looking to onboard investors such as Advent and TPG for its joint venture. Besides the guaranteed minimum returns, the AI firm’s offer includes early access to its latest AI models. Sources close to OpenAI say Anthropic’s private equity deal did not offer such returns.
The two firms are competing to attract buyout companies that could pave the way for them to introduce AI tools to hundreds of the private firms they own. This approach would enhance their AI models and enhance customer retention as they position them for potential IPO.
Companies Could Rip Big With Joint Ventures
The joint venture approach could help OpenAI and Anthropic to lower the cost of customizing AI agents for customers. Both companies are rushing to close similar partnerships with private equity in a strategy that is now emerging in the AI sector.
“There’s a big race to lock in as much enterprise, as many desks as possible. I can see that there’s a huge amount of scalability there,” Boston Consulting Group’s Matt Kropp noted.
Once enterprises have customized AI models integrated into their systems, it will be difficult to shift to a competitor. But as OpenAI’s investor incentives strategy takes shape, some private equity companies have opted to stay out. The companies raise concerns over the flexibility and profitability of the partnership.
Software-focused buyout company Thoma Bravo said most of its firms are deploying AI tools. The firm raised concerns about the long-term profit profile of joint ventures with Anthropic and OpenAI. Other investors argued that private equity firms already have access to the generative AI tools developed by the two developers without capital commitments.
Both Firms Continue Talks with Investors
OpenAI is offering private equity firms investor priority status over other joint venture partners. The company is holding talks with more private equity firms to contribute smaller stakes to the venture.
Previously, OpenAI held talks with Bain Capital and Brookfield Asset Management in a bid to raise $4 billion at a pre-money valuation of about $10 billion. Anthropic is also engaging Blackstone, Permira, and Hellman & Friedman in pursuit of its joint venture.
