[DigitalToday reporter Chi-gyu Hwang (황치규)] OpenAI and Anthropic are establishing a joint venture to target the enterprise market.

Anthropic on May 4 (local time) announced it will set up a joint venture with Blackstone, Hellman & Friedman and Goldman Sachs that will focus on providing AI services to businesses.

Venture capital firms, hedge funds and private equity firms including Apollo Global Management, General Atlantic, GIC, Leonard Green and Sequoia Capital are also participating in the joint venture.

The Wall Street Journal (WSJ) reported the joint venture is valued at $1.5 billion, with Anthropic, Blackstone and Hellman & Friedman each investing $300 million.

OpenAI is also pushing to set up a similar joint venture with Anthropic. Bloomberg reported OpenAI will raise $4 billion from 19 investors to establish The Development Company. The Development Company is valued at about $10 billion. TPG, Brookfield Asset Management, Advent and Bain Capital are listed as investors.

Both Anthropic and OpenAI are raising funds from asset managers to create new sales channels for enterprise AI deals. Investors secure preferential sales access to portfolio companies and take profits generated from contracts.

TechCrunch reported it will operate by adopting Palantir’s forward deployed engineer (FDE) model, directly deploying engineering resources for each company.

Both Anthropic and OpenAI are raising funds at a rapid pace while considering initial public offerings. OpenAI at the end of March attracted new investment of $122 billion at a valuation of $852 billion. TechCrunch reported Anthropic is in the final stages of closing an investment round worth $50 billion at a valuation of $900 billion.