OpenAI is taking an ownership stake in Thrive HoldingsWhose parent company is Thrive Capital, one of the major investors in the AI giant.
Thrive Holdings operates like a private equity firm for AI, bringing in companies it believes could benefit from the technology in areas such as accounting and IT services.
Neither company has disclosed terms of the deal, but it will see OpenAI embedding engineering, research and product teams within Thrive’s companies to accelerate AI adoption and increase efficiency, the company says. If those companies are successful, OpenAI’s stake will increase, and it will receive compensation for its services. Reporting from CNBC,
Partnership follows a pattern circular deal For the $500 billion AI giant, which has also recently taken stakes in infrastructure partners like Advanced Micro Devices and corewaveAnalysts will be watching to see whether Thrive-owned companies actually succeed in building long-term profitable businesses using OpenAI’s technology, or if the result is actually inflated valuations based on speculative market potential,
