Anthropic, the private company behind the Claude AI models, is in talks with Blackstone Group (BX) and other private equity firms to form an AI joint venture. The proposed venture would deploy Claude AI tools across the firm’s portfolio companies. This pivot away from big tech partnerships comes amid escalating legal tensions with the Department of Defense (DoD), recently renamed the Department of War (DoW).
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Forget margin or options. Here's how the pros trade AMZNAnthropic Eyes Blackstone and H&F to Supercharge AI Joint Venture
Anthropic aims to commercialize Claude AI by selling its technology and integration consulting services directly into the operations of companies within the private equity portfolios. The approach is modeled after Palantir (PLTR), marking a deliberate departure from deals with big tech public companies such as Amazon (AMZN) and Alphabet (GOOGL), its two largest cloud and strategic partners.
Notably, Blackstone leads discussions with Anthropic, alongside Hellman & Friedman (H&F), regarding the proposed structure. The global investment firm already holds a $1 billion stake in Anthropic after a $200 million investment in early February 2026, making it one of the AI firm’s largest non-venture, non-sovereign backers. This follows its participation in Anthropic’s $13 billion raise at a $183 billion valuation less than a year earlier.
Anthropic Fights Pentagon Designation Amid Joint Venture Talks
Anthropic’s AI joint venture discussions took a brief pause amid ongoing Pentagon scrutiny before resuming, according to reports from March 11. The friction stems from the DoW, designating Anthropic as a supply chain risk. Following this, the company responded with two lawsuits against the DoW on March 9.
Currently, no valuation, timeline, or final terms have been disclosed as talks about Anthropic’s AI joint venture plans remain ongoing. Meanwhile, Anthropic has seen notable growth, with its annualized revenue doubling to $19 billion, underscoring accelerating commercial demand for Claude AI. Moreover, if discussions with Blackstone and H&F succeed, both investment firms, which manage thousands of companies across sectors such as real estate, energy, healthcare, and manufacturing, could propel Claude AI well beyond what hyperscalers alone can provide.
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