Microsoft (MSFT)-backed OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its artificial intelligence products, Bloomberg News reported Monday, citing a person with knowledge of the matter.

The venture, dubbed The Deployment Company, is backed by 19 investors, including TPG (TPG), Brookfield Asset Management (BAM), and Bain Capital, the source reportedly said.

OpenAI will retain majority ownership and control, according to the report.

The initiative is intended to use investor networks, which include more than 2,000 portfolio companies and clients, to accelerate enterprise uptake of OpenAI's technology, Bloomberg quoted the source as saying.

The development comes as OpenAI and Anthropic compete to grow enterprise sales of AI software ahead of potential public listings, Bloomberg reported.

OpenAI, TPG, Brookfield and Bain did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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