Private equity giants Blackstone and Hellman & Friedman are exploring a joint venture with Anthropic to deploy AI technology across their portfolio companies, according to The Information. The partnership would create a new commercial channel for Anthropic's AI systems, mirroring Palantir's model that combines software with consulting services.

If finalized, the venture would enable portfolio companies to accelerate AI adoption while generating revenue through enterprise implementation and advisory services. This comes as artificial intelligence infrastructure and enterprise applications have become central investment themes in private markets, with investors seeking ways to capitalize on the technology's commercial potential.

The negotiations briefly stalled after a dispute between Anthropic and the US government over military use restrictions. US Defense Secretary Pete Hegseth had labeled the company a supply chain risk and banned its technology from Department of Defense use. However, the Pentagon later reversed course, allowing Anthropic's tools like Claude AI to continue being used if deemed critical to national security.