OpenAI is in advanced discussions to form a joint venture with TPG, Advent International, Bain Capital, and Brookfield Asset Management. The new entity will distribute ChatGPT Enterprise and other AI products directly to hundreds of companies within the investment firms' portfolios.
The proposed venture is valued at $10 billion before a planned $4 billion investment from the private equity partners. TPG is expected to act as the lead investor in the deal.
Participating firms will receive equity stakes and board seats in exchange for their capital. This strategy aims to rapidly scale OpenAI's corporate adoption as it competes with rivals like Anthropic for enterprise market share.