OpenAI and Anthropic investors are not always choosing sides

Some investors are backing both OpenAI and Anthropic, rather than choosing only one side in the frontier AI race.

What happened

Recent reporting highlights how some major AI investors have exposure to both companies, even though the two are direct competitors.

Why it matters

Frontier AI is becoming extremely capital-intensive. Investors may prefer to spread risk across the category instead of betting everything on one winner.

The bigger picture

The AI market is starting to look less like a simple startup race and more like infrastructure-level investing. When the stakes are this high, hedging becomes part of the strategy.