MoneyThe story, in brief
OpenAI and Anthropic May Be Rivals, but Investors Aren’t Picking Sides
Investors are doubling down on both OpenAI and Anthropic. Here's why the 'pick a side' narrative is already dead.
The KeyNews take
Why it matters
Portfolio diversification strategy among top-tier VCs signals confidence in multiple LLM winners, challenging the winner-take-all narrative and revealing how institutional capital is hedging bets across the AI stack.
The key facts
4 to knowVCs backing both OpenAI and Anthropic simultaneously
Investor rationale: portfolio hedging across competing models (Pepsi/Coke analogy)
Indicates market expectation of multiple viable LLM platforms
Published June 2026 — post-Series F funding environment
Go to the source
Wired AIwired.com
Publisher excerpt: “Why wouldn’t you want to be in both Pepsi and Coke?” says one venture capitalist. “It’s the same here.”