OpenAI has set up a joint venture worth about 6 trillion won to step up its push into the corporations-focused artificial intelligence (AI) market.
OpenAI said on the 11th (local time) that it formed partnerships with TPG and other private equity operators, consulting corporations, and systems integration (SI) firms to establish a joint venture (JV), "OpenAI Deployment Company."
OpenAI will hold a majority equity in the new entity, with partner firms sharing the remaining equity. OpenAI will also exercise management control.
The venture aims to deliver the company's AI models in customized form to each corporation. It is expected to provide services mainly to corporations in the investment portfolios of the private equity firms that formed the initial partnerships. To that end, OpenAI separately acquired a consulting company called "Tomoro" and hired about 150 employees.
OpenAI's move appears to be a response to rival Anthropic's push to set up a JV in partnership with major Wall Street private equity firms such as Blackstone.
Both OpenAI and Anthropic are preparing for an initial public offering (IPO) as early as this year. The two are effectively competing to secure the corporations-facing market, which accounts for a large share of revenue, ahead of their listings.
Dennis DeRougement, OpenAI's chief revenue officer (CRO), said, "AI is increasingly able to perform more meaningful tasks within organizations, so the task now is to help corporations smoothly integrate these systems," adding, "OpenAI Deployment Company is designed to help organizations bridge gaps and translate AI capabilities into tangible operational outcomes."