Artificial intelligence company Anthropic is close to finalizing a $1.5 billion joint venture with several prominent Wall Street financial firms, according to reports.

The investment arrangement involves multiple major players in the financial sector. Private equity giant Blackstone and investment firm Hellman & Friedman are each expected to contribute approximately $300 million to the venture. Investment banking firm Goldman Sachs is also participating as an investor in the deal.

The joint venture represents a significant capital raise for Anthropic, which develops AI systems and competes in the rapidly growing artificial intelligence market. The company has been working to expand its operations and technological capabilities in the competitive AI landscape.

The structure of the deal suggests a coordinated effort among established financial institutions to invest in AI technology. The involvement of multiple major firms indicates strong institutional interest in Anthropic's technology and market position.

Details about the specific terms of the joint venture and how the funds will be utilized have not been disclosed. The timing of the final agreement remains to be confirmed as negotiations continue.