Anthropic announced Monday that it is forming a $1.5 billion joint venture with Blackstone, Hellman & Friedman and Goldman Sachs to market its AI tools to corporate clients. Hours later, OpenAI disclosed a parallel effort, the Development Company, backed by $4 billion from 19 investors and valued at $10 billion. Both initiatives aim to give alternative asset managers preferred access to AI contracts while providing the labs with capital to expand engineering teams and embed technology directly into customer workflows. Read more →