Artificial intelligence leader OpenAI is reportedly in discussions to invest up to $1.5 billion in a new joint venture. Citing sources familiar with the matter, the Financial Times reported that the ChatGPT maker plans an initial equity investment of $500 million into the venture, internally codenamed DeployCo. This new entity is expected to be valued at $10 billion during a funding round slated for early May.
DeployCo, structured as a Delaware LLC, is designed to accelerate the integration of OpenAI's workplace tools, marking a significant push into the enterprise market. OpenAI will hold super-voting shares within DeployCo. The venture's private equity partners are set to invest over five years, with OpenAI guaranteeing a 17.5% annual return. An additional $1 billion commitment from OpenAI is also an option later. Investors such as TPG, Bain Capital, Advent International, Brookfield, and Goanna Capital are reportedly contributing $4 billion.
This strategic move follows reports that both OpenAI and rival Anthropic have been actively engaging private equity firms to leverage their influence over corporate spending on AI solutions. OpenAI's intensified focus on enterprise AI comes as it seeks to gain traction in a market where Anthropic is currently perceived to have broader corporate client adoption.