The current allocation is positioned as both OpenAI and Anthropic move toward initial public offerings, according to Norchet. The fund manager anticipates that these companies will both capture significant value, suggesting there is sufficient room for several dominant players to coexist in the long term.
Wednesday, October 21, 2026
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T. Rowe Price Bets Multi Billion Dollars on Both OpenAI and Anthropic
AI14 days ago
The investment management firm has adopted a diversified strategy across the most advanced AI laboratories to avoid betting on a single winner. Portfolio manager Emma Norchet stated that T. Rowe Price holds multi-billion-dollar positions in both OpenAI and Anthropic, rejecting the belief that the frontier AI market is a winner-takes-all environment. The firm is banking on the idea that multiple companies can scale and monetize their technology as long as they remain at the technical edge.
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