Anthropic is expanding its enterprise AI business through a new partnership with London-based private equity firm Hg, according to a report from the Financial Times. The two companies are establishing an independent consultancy that will embed AI consultants and engineers within businesses to accelerate the adoption of artificial intelligence across European companies.
The venture is expected to begin operations by the end of 2026, with London and Berlin serving as its primary hubs. This marks Anthropic's first standalone consultancy venture in Europe, as the company seeks to move beyond supplying AI models and directly assist organizations in turning AI capabilities into practical business applications.
How the Anthropic-Hg partnership will work
The new company will help businesses incorporate AI into their existing workflows and develop new products using the technology. Anthropic will contribute capital from its balance sheet, while Hg will invest through the funds it manages. The arrangement combines Anthropic's AI technology and engineering capabilities with Hg's experience in investing in software and services businesses.
The venture also creates a potential channel for deploying AI across companies backed by Hg, building on the firm's existing efforts to introduce AI tools throughout its portfolio. This strategic move positions Anthropic to compete more directly with traditional IT consulting firms, which have historically helped businesses integrate new technologies.
Anthropic takes aim at traditional consultancies
The move adds to growing competition between AI developers and established IT consulting firms. AI companies are increasingly building their own implementation services to guide customers from experimentation to operational deployment. Anthropic has already entered this sector in the United States through Ode, an independent AI services company introduced in July, backed by Blackstone and Hellman & Friedman, along with investors including Goldman Sachs, Apollo Global Management, and General Atlantic.
Rival OpenAI is pursuing a similar strategy. In May, it launched the OpenAI Deployment Company to help businesses build and integrate AI systems into their core operations, extending its reach beyond the development and sale of AI models.
European expansion comes ahead of major IPO
Anthropic's consulting push comes as it prepares for a potential initial public offering that could test investor appetite for AI companies amid questions about valuations and the cost of developing advanced models. The company could make its IPO prospectus public as soon as Friday, October 23, according to media reports. Anthropic is targeting a potential November listing, although the reported timeline remains subject to change.
Investor expectations have also shifted. Some prospective and existing investors are reportedly considering a valuation of around $1.5 trillion, below the roughly $2 trillion figure discussed previously. The reassessment follows fresh disclosures about the company's financial performance and the substantial costs associated with AI development.
A draft IPO prospectus reportedly showed that Anthropic recorded a net loss of $80.7 billion in the first half of 2026, compared with $13 billion a year earlier. However, approximately $72 billion of the reported loss came from a non-cash accounting charge related to an increase in the estimated value of convertible bonds and other financing instruments, rather than operating expenses.
This article is for informational purposes only and does not constitute financial advice.
