VCs are 'hedging their bets,' backing competing LLMs like Anthropic and OpenAI, breaking a long-standing venture taboo

VCs are 'hedging their bets,' backing competing LLMs like Anthropic and OpenAI, breaking a long-standing venture taboo

left: CFOTO/Future Publishing via Getty Images right: Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images

When venture firms pull out their checkbooks, there has traditionally been an unspoken rule: Do not back a competitor. Choose either Lyft or Uber, but not both.

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