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OpenAI is offering private-equity firms preferred equity stakes with a guaranteed minimum return of 17.5%, significantly higher than typical preferred instruments. It is also offering early access to its newest AI models as it seeks to enlist investors such as TPG and Advent for its joint venture.
"There's a big race to lock in as much enterprise, as many desks as possible," said Matt Kropp at Boston Consulting Group’s AI unit, adding that once a company has a customized AI model integrated into its systems, it becomes much harder to switch to a competitor.
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