Anthropic and OpenAI each launch separate joint ventures for enterprise AI deployment, backed by major alternative asset managers.

Anthropic announced a joint venture valued at $1.5 billion with founding partners Blackstone, Hellman & Friedman, and Goldman Sachs, each committing $300 million alongside Anthropic's own $300 million commitment. OpenAI is raising $4 billion for a competing venture called The Development Company against a $10 billion valuation from 19 investors including TPG, Brookfield Asset Management, Advent, and Bain Capital.

Both ventures will operate on the forward-deployed engineer (FDE) model, stationing engineering teams on-site at client companies to build AI tools integrated into existing workflows. The ventures aim to give investors preferred sales access to their portfolio companies in exchange for capital and deal flow.

The announcements come as both AI labs pursue major fundraising rounds: OpenAI announced $122 billion in new funding at a $852 billion valuation in late March, while Anthropic is reported to be seeking $50 billion against a $900 billion valuation.