OpenAI, Anthropic Form JVs With Wall Street to Drive AI Adoption

OpenAI and Anthropic PBC are both forming joint ventures with some of world’s most recognizable financial institutions in a race to drive more adoption of their artificial intelligence tools.

OpenAI has raised more than $4 billion from investors including TPG Inc., Brookfield Asset Management, Advent and Bain Capital for a firm focused on helping businesses leverage its AI software, Bloomberg reported on Monday. Within minutes of that news, rival Anthropic announced it’s partnering with Blackstone Inc., Hellman & Friedman and Goldman Sachs Group Inc. to form a similar company.

Both efforts coincide with the rise of “forward-deployed ...