Anthropic and OpenAI are both launching joint ventures for enterprise AI services |...

On Monday, Anthropic announced a joint venture focusing on deploying enterprise AI services. Blackstone, Hellman & Friedman, and Goldman Sachs will be founding partners in the new venture, which is backed by a group of VCs, hedge funds, and private equity firms, including Apollo Global Management, General Atlantic, GIC, Leonard Green, and Sequoia Capital. The Wall Street Journal, which first reported news of the partnership, reported the new venture was valued at $1.5 billion, which includes a $300 million commitment each from Anthropic, Blackstone, and Hellman & Friedman. The announcement comes just as Anthropic’s chief rival is preparing to make a similar move. Mere hours before the Anthropic announcement, Bloomberg reported that OpenAI was raising funds for a new venture called The Development Company, along very similar lines. OpenAI’s venture would operate at a larger scale, raising $4 billion from 19 investors against a $10 billion valuation. Named investors include TPG, Brookfield Asset Management, Advent and Bain Capital, with no apparent overlap in investment between the OpenAI venture and Anthropic’s competitor. The overall logic of the two ventures is the same, raising money from alternative asset managers to create new channels for enterprise AI deals. The ventures will presumably get preferred sales access to their investors’ portfolio companies, while the investors will capture more value from any resulting contracts. The new capital