OpenAI joins hands with TPG and Bain Capital aiming to harvest the enterprise market with private equity giants.

OpenAI has entered into advanced negotiations with several private equity investment firms to establish a joint venture aimed at promoting OpenAI's artificial intelligence products to corporate clients (including companies in their investment portfolios). Reports indicate that these private equity investment firms include TPG, Andreessen Horowitz, Bain Capital, and Bruker Corporation Field Asset Management (BAM.US). According to sources familiar with the matter, the pre-money valuation of this potential deal is estimated to be $10 billion. This could help OpenAI, supported by Microsoft Corporation (MSFT.US), expand its corporate customer base. Under the proposal, these private equity investment firms will invest $4 billion in the joint venture in exchange for equity. TPG will be appointed as the potential lead investor, and all four companies will receive seats on the joint venture's board of directors. Last week, there were reports that OpenAI's main competitor, Anthropic, is also in talks with a group of private equity investment firms, including Blackstone Inc. (BX.US) and Hellman & Friedman, to establish a joint venture focused on AI. The partnership aims to sell Claude developer technology to companies supported by these investment firms.