With AI, investor loyalty is (almost) dead: At least a dozen OpenAI VCs now also back Anthropic

Investor loyalty in the AI sector is nearly obsolete, evidenced by at least a dozen direct investors in OpenAI also backing Anthropic's recent $30 billion funding round. This dual investment includes major firms like Founders Fund, Iconiq, and Sequoia Capital. While some dual backing from hedge funds like BlackRock (which also has a board member on OpenAI's side) is somewhat expected due to their diverse fund structures, it challenges the traditional venture capital model, which emphasizes being "founder friendly" and supporting a startup against rivals. Startups typically share confidential information with investors who often take board seats, creating fiduciary responsibilities. OpenAI CEO Sam Altman reportedly tried to prevent his investors from backing rivals like Anthropic, though he later clarified that non-passive investments would result in losing access to confidential data. The massive capital needs of leading AI labs are pushing investors to prioritize huge potential returns over traditional loyalty, leading some respected firms to abandon the unwritten rule against backing direct competitors.

(Source：TechCrunch)