' Hey, Linas here! Welcome back to a ' weekly free edition ' of my daily newsletter. Each day, I focus on 3 stories that are making a difference in the financial technology space. Coupled with things worth watching & most important money movements, it's the only newsletter you need for all things when Finance meets Tech. He Got Fired From OpenAI at 22. Then He Turned $225M Into $5.5B by Betting on the AI Infrastructure No One Else Was Watching ' [Inside Leopold Aschenbrenner's Situational Awareness Fund: the AGI investment thesis, the full portfolio breakdown, and the framework any investor, entrepreneur, or operator can steal right now] Turn ChatGPT Images 2.0 & Claude Design Into Your Chief Designer ' [How to build a Brand Identity, Design System, and Product Prototype in hours - without a designer. It's the best 2026 workflow for FinTech & AI founders who need institutional-grade design fast] Anthropic stopped selling AI to Wall Street and started becoming Wall Street's Operating System '' [what the 10 finance AI agents actually do, why FactSet dropped 8.1% the same day, what the FIS infrastructure deal and $1.5B Blackstone/Goldman JV mean for distribution & what to expect next + bonus Guide on Claude Managed Agents, Claude Code Routines, & How to Build Your First AI Agent from Sratch inside]...

Good morning & happy Tuesday! Today we're diving into AI giants OpenAI & Anthropic, which just outsourced their sales teams to private equity (breaking down their PE playbook, why it matters & what to expect next + bonus deep dives into OpenAI that wants to build the last App Store while also developing a personal AI CFO, & Anthropic's AWS strategy), and a 3-year-old firm nobody's heard of that just bought the world's largest corporate travel company (why Long Lake Management is acquiring Amex GBT, and what it means for Ramp, Brex and Navan + bonus deep dives into American Express and why it skipped the Agent Protocol wars & Anthropic, which just told founders exactly what AI products to build in 2026). Let's jump straight into the fascinating stuff '' On the same day, OpenAI and Anthropic each finalized & signed joint ventures with the biggest names in private equity - TPG, Blackstone BX 0.00%', Goldman Sachs GS 0.00%', and Bain Capital - to physically embed their engineers inside thousands of portfolio companies....

The venture, internally dubbed 'DeployCo', will be valued at $10bn as part of a funding round expected to close in early May. OpenAI will contribute an initial $500m of equity, with an option to deploy a further $1bn at a later date, bringing its total potential commitment to $1.5bn. DeployCo, a Delaware-listed LLC majority owned and controlled by OpenAI through super-voting shares, is currently managed by Brad Lightcap, until recently the company's chief operating officer. Its primary clients will be portfolio companies of the private equity firms involved, with the venture charging businesses to embed AI into their operations. Lightcap has overseen the hiring of dozens of so-called 'forward deployed engineers', a model pioneered by US software group Palantir, whereby developers are embedded directly within client companies. The structure offers OpenAI what one person described as 'patient capital, locked up for five years', while the guaranteed return floor reduces the risk for the private equity investors relative to a typical fund investment. The OpenAI equity held by the vehicle could also be deployed to acquire technology and intellectual property in the future....

Dave Brett, Partner and Head of Co-Investments at Adams Street Partners, pointed to shifting investor priorities as a key driver of demand. 'Investors are continuing to prioritise strategies that have the potential to offer greater visibility, alignment, and cost efficiency,' he said. The result is consistent with findings from Adams Street's own Global Investor Survey, which identified enhanced returns, reduced fee drag, and more direct exposure to high-conviction opportunities as the principal reasons limited partners are increasing their co-investment allocations. Jeffrey Diehl, Managing Partner and Head of Investments, said the close signals broader confidence in the strategy despite a tougher fundraising backdrop. 'We believe co-investments remain a compelling solution in today's market, where access and selectivity are critical,' he added. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....