OpenAI is forming a $10 billion joint venture, internally called DeployCo, with private equity firms TPG, Bain Capital, Advent International, Brookfield, and Goanna Capital, according to reporting first published April 22. OpenAI commits up to $1.5 billion (an initial $500 million with a $1 billion option) and guarantees PE investors a 17.5% annual return over five years; the deal is expected to close in early May. DeployCo will embed engineers inside PE portfolio companies across healthcare, logistics, manufacturing, and financial services to deploy OpenAI tools—a Palantir-style model that gives PE firms financial incentive to roll OpenAI products across hundreds of companies at once.