OpenAI and Anthropic share 90 investors — why vcs are betting on both
openai and anthropic share roughly 90 investors, or about 42% of their funding base, including sequoia and founders fund. this hedging strategy signals that vcs do not view the ai race as a winner-take-all market.
an analysis of pitchbook data reveals that 90 investors hold stakes in both openai and anthropic, including major firms like sequoia capital, greylock, and founders fund. this represents roughly 42% of openai's investors and a third of anthropic's backers, a level of overlap described as unprecedented by venture capital experts. investors are hedging their bets to protect returns in a market where the ultimate winner remains unclear, challenging the traditional vc model of picking a single horse. with both companies eyeing potential ipos, this dual backing allows firms to double their odds of success while navigating a sector requiring massive capital. the trend reflects how large funds have evolved, blurring lines between investment classes as companies stay private longer and raise sums exceeding $100 billion.