OpenAI Sweetens Private Equity Deal Amid AI Enterprise Turf War with Anthropic

• OpenAI offers private-equity firms a guaranteed minimum return of 17.5% and early access to new AI models.
• This strategy aims to accelerate enterprise AI adoption and secure partnerships with buyout firms like TPG and Advent.
• OpenAI and Anthropic are competing to roll out AI tools to hundreds of private companies owned by buyout firms.
• The joint venture structure helps absorb high upfront costs and provides clearer segment reporting for potential IPOs.
• Some private-equity firms, including Thoma Bravo, declined to participate due to concerns about economics and profit profiles.