OpenAI in Talks for $10 Billion Joint Venture With PE Firms

OpenAI is in advanced discussions to form a joint venture with private equity firms, including TPG Inc., Brookfield Asset Management and Bain Capital, that would focus on bolstering adoption of its AI software, according to people familiar with the matter.

The joint venture would have a pre-money valuation of roughly $10 billion, said the people, who spoke on condition of anonymity to discuss private information. The private equity investors would commit about $4 billion toward the venture, the people said.