Thrive Capital invested about $1 billion in OpenAI at a $285 billion valuation, source says

Thrive Capital, led by Joshua Kushner, has made a substantial investment of approximately $1 billion in OpenAI, valuing the artificial intelligence powerhouse at $285 billion as of December. This move underscores Thrive's longstanding support and commitment to one of the leading players in AI innovation. As OpenAI gears up for a massive funding round projected to exceed $100 billion—potentially elevating its valuation to a staggering $800 billion—Thrive's late 2022 investment stands out as a significant preference deal. Sources indicate that Thrive is expected to take part in this current funding round, although specifics remain confidential, as discussions are ongoing. Recently, Thrive announced the closing of its latest fund, which surpasses $10 billion, further solidifying its investment capacity. OpenAI's CEO, Sam Altman, expressed his appreciation for Kushner's support in a post on X, stating, "Extremely grateful to work with Josh. No one could ask for a more committed, more thoughtful, or harder-working investor." In a strategic move last December, OpenAI also obtained an ownership stake in Thrive Holdings, a firm dedicated to acquiring and managing companies poised to leverage advancements in technology, including artificial intelligence. While the financial details of this partnership remain undisclosed, it highlights the deepening ties between the two entities. OpenAI’s upcoming funding round is expected to unfold in stages, with major investors such as Nvidia, SoftBank, and Amazon contributing first, followed by a wider array of investors. This strategic approach is aimed at maximizing the potential of the funding influx, setting the stage for OpenAI’s continued growth in the rapidly evolving AI landscape.