OpenAI Finalizing $10B JV with Investors

OpenAI is finalizing a new joint venture called The Deployment Company with investment firms, according to media reports. The new firm will aim to help businesses use its AI software in day-to-day operations.

The JV raised more than $4 billion from investors to value the new company at $10 billion. It is backed by TPG Inc, Brookfield Asset Management, Advent, and Bain Capital, and is to focus on helping businesses use its AI software and tools.

Additional partners include Dragoneer Investment Group and SoftBank Group, among others, as well as a mix of consulting firms. OpenAI was reportedly in discussions for the JV earlier this year. The company will be majority-owned and controlled by OpenAI. OpenAI’s JV partners have access to more than 2,000 portfolio companies and clients, which the ChatGPT-maker will target with its AI services and tools.