OpenAI is offering private equity firms a guaranteed minimum return of 17.5% as it seeks to secure investment into joint ventures aimed at accelerating enterprise adoption of artificial intelligence, Reuters reported.

The proposed partnerships would enable buyout firms to deploy OpenAI’s technology across their portfolio companies, helping scale usage while addressing the high upfront costs associated with AI implementation.

The move comes as OpenAI competes with Anthropic for private equity backing, with both firms pursuing joint venture structures to expand their presence in enterprise markets.

OpenAI’s offer includes early access to its latest AI models, alongside downside protection and preferential terms, as it seeks to attract investors including TPG and Advent.

The strategy reflects a broader push by AI developers to embed their technology across large corporate ecosystems, leveraging private equity portfolios as distribution channels.

The joint venture model is also expected to support clearer revenue segmentation and strengthen positioning ahead of potential public listings.

However, some private equity firms have opted not to participate, citing concerns over the long-term profit profile and flexibility of the arrangements.

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