OpenAI is in advanced talks with major private equity firms-including TPG, Advent International, Bain Capital, and Brookfield-to form a $10 billion joint venture aimed at accelerating the rollout of its enterprise AI products.
The venture would leverage the extensive networks of the participating firms to deploy OpenAI’s AI tools across their global client bases. The structure includes $4 billion in funding, equity stakes, and board representation, led by TPG.
The move follows a similar strategy by Anthropic, which is partnering with Blackstone, Permira, and Hellman & Friedman for its Claude AI platform. While OpenAI offers senior-class equity favoring investor returns, Anthropic provides ordinary shares.
This development highlights AI’s growing influence in private equity, as OpenAI reports $10 billion in revenue from enterprise clients and expands its Frontier Alliances with top consulting firms to embed AI into core business operations.