OpenAI, Anthropic battle for deals with private equity companies
anthropic microsoft openai
| Source: CNBC on MSN | Original article
OpenAI and Anthropic are intensifying a race for fresh capital by courting private‑equity firms, CNBC’s MacKenzie Sigalos reported on Tuesday. Both companies have opened negotiations with a slate of buy‑side funds that specialize in secondary‑market transactions, seeking to lock in multi‑billion‑dollar commitments ahead of their planned public listings. The push follows OpenAI’s recent restructuring deal with Microsoft, which granted the nonprofit a $100 billion valuation while preserving its nonprofit board, and Anthropic’s own hybrid‑model fundraising that mirrors OpenAI’s latest move.
The scramble matters because private‑equity backing could shape the pace and terms of the AI giants’ IPOs, influence governance structures, and tilt the competitive balance in a market where capital is increasingly scarce amid heightened regulatory scrutiny. For OpenAI, securing equity partners would complement the “stealth” funding pipeline that has already attracted a wave of secondary‑sale vehicles, such as Morgan Stanley’s new $25,000‑minimum fund. Anthropic, fresh from the launch of Claude Code, is positioning its private‑equity ties as a way to fund next‑generation models without over‑relying on its Microsoft alliance.
Analysts will watch whether any of the deals materialise before the end of the quarter, as the timing could dictate the pricing of the anticipated listings. The next indicators are likely to be term‑sheet disclosures from firms like Blackstone, KKR or Carlyle, and any regulatory feedback on the growing trend of tokenised shares—highlighted by Robinhood’s controversial “OpenAI tokens” offering. A successful private‑equity round for either player would not only boost their balance sheets but also signal confidence in the sector’s long‑term growth, setting the stage for the next wave of AI‑driven market activity.
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