Investing.com -- OpenAI has secured more than $4 billion in capital for a new joint venture designed to accelerate the corporate adoption of its artificial intelligence software. The initiative, named The Deployment Company, drew participation from 19 investors including TPG Inc (NASDAQ: TPG), Brookfield Asset Management Inc (NYSE: BAM), Advent, and Bain Capital Specialty Finance Inc (NYSE: BCSF), according to a report from Bloomberg, citing a person familiar with the matter.

The transaction values the new entity at $10 billion, excluding the newly raised funds, the person said. OpenAI will maintain majority ownership and operational control over the venture, which also counts SoftBank Group Corp. (TYO:9984) and Dragoneer Investment Group among its backers.

This strategic move shortly follows a report from the Financial Times stating that rival Anthropic has secured $1.5 billion for its own joint venture with a consortium of Wall Street institutions. Leading that initiative are Blackstone Inc (NYSE: BX), Goldman Sachs Group Inc (NYSE: GS), and Hellman & Friedman, who intend to deploy AI across their global investment portfolios.

The Financial Times report, citing people briefed on the matter, noted that the three lead firms will each provide an initial $300 million investment. Goldman Sachs and General Atlantic are also expected to commit $150 million apiece to the project, which remains unnamed ahead of an official announcement.

Both OpenAI and Anthropic are racing to expand their commercial footprints as they move toward anticipated initial public offerings as early as this year. These joint ventures serve as critical vehicles for opening new markets and proving the enterprise value of their respective technologies.