OpenAI in talks to form $10B joint venture with TPG, Brookfield, and Bain to accelerate enterprise AI adoption

OpenAI is in advanced discussions to form a joint venture with private equity firms including TPG, Brookfield Asset Management, and Bain Capital, with a pre-money valuation of roughly $10B and approximately $4B in committed capital from the PE investors. The venture, described by OpenAI applications chief Fidji Simo as “building a deployment arm” for its technology, would focus on accelerating adoption of OpenAI's AI software among business customers in sectors like financial services and healthcare. The move mirrors a similar effort by Anthropic, which is reportedly in talks with Blackstone and other PE firms about forming its own joint venture to sell Claude to enterprises.