The battle for the world’s biggest companies just got a lot more crowded. On Monday, Anthropic announced a new joint venture aimed at putting AI services directly into the hands of large businesses. This isn’t just a tech project. Heavy hitters from the financial world like Blackstone, Hellman & Friedman, and Goldman Sachs are joining as founding partners. A long list of big names including Sequoia Capital and Apollo Global Management are also backing the move.
This new company starts with a $1.5 billion valuation. Anthropic, Blackstone, and Hellman & Friedman each committed $300 million to get things moving. But Anthropic isn’t the only one making big moves. Only hours before their announcement, news broke that OpenAI is raising money for its own project called The Development Company. OpenAI is playing for even higher stakes, looking to raise $4 billion from investors like Bain Capital and TPG at a massive $10 billion valuation.
New Ways to Sell AI
The logic behind these moves is simple. Both AI labs want to use the influence of giant asset managers to find new customers. By partnering with firms like Goldman Sachs or Bain, the AI companies get direct access to all the other businesses those firms already own or fund. In exchange, the investors get a piece of the action and better AI tools for their own portfolios.
Both ventures plan to use a “forward-deployed engineer” style. This is a method Palantir made famous. Instead of just selling software and walking away, the AI companies will send their engineers to sit down with a customer’s staff. For example, Anthropic engineers might work alongside doctors and IT teams in a hospital to build tools that fit right into their daily work. This approach makes the AI much more useful because it is built by the people who actually use it.
The Path to an IPO
These ventures are launching while both Anthropic and OpenAI raise cash at a staggering rate. At the end of March, OpenAI announced $122 billion in new funding, which puts its value at a huge $852 billion. Meanwhile, Anthropic is finishing up a $50 billion funding round that values them at $900 billion.
All this activity suggests that both companies are getting their houses in order before they eventually go public. By creating these separate joint ventures, they can focus on the hard work of enterprise sales without slowing down their main research labs. It also allows them to hire more engineers and dedicate them specifically to helping businesses solve real-world problems.
The AI gold rush is shifting from chatbots for individuals to custom tools for the workplace. Whether you work in healthcare, finance, or manufacturing, these two giants are racing to make sure their AI is the one your company chooses. With billions of dollars on the line and the backing of the world’s most powerful banks, the office of the future is being built right now.