OpenAI launches $10B joint venture with TPG, Brookfield, Bain Capital; Anthropic follows with $1.5B JV

OpenAI closed a $10 billion joint venture called The Deployment Company anchored by TPG with participation from Brookfield Asset Management, Advent, Bain Capital, SoftBank, Dragoneer, and 13 other investors, valuing the entity at $10 billion. OpenAI contributed $4 billion and retains majority ownership. Within minutes, Anthropic unveiled a parallel $1.5 billion joint venture with Blackstone, Hellman & Friedman, and Goldman Sachs (each ~$300M), plus ~$150M from Goldman Sachs. General Atlantic, Leonard Green, Apollo, GIC, and Sequoia also participate in the Anthropic JV. The two JVs total $11.5 billion in enterprise AI deployment capital announced within minutes of each other, signaling that frontier AI labs are pursuing Wall Street partnerships to scale enterprise adoption beyond what internal sales teams can handle.