At least a dozen OpenAI investors now also back Anthropic, eroding VC loyalty norms

At least 12 direct OpenAI investors participated in Anthropic's $30B raise, including Founders Fund, Sequoia Capital, Iconiq, and Insight Partners. BlackRock funds invested despite having a board member on OpenAI's board. The dual investments mark a departure from traditional VC norms of founder loyalty. The shift reflects a new reality in AI investing where the stakes are too high for exclusivity. With OpenAI nearing $100B+ and Anthropic at $350B, investors are treating both as must-own positions regardless of competitive dynamics.

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