Thrive Holdings, a spinout of OpenAI investor Thrive Capital, raised $2 billion at a $12 billion valuation from SoftBank, D1 Capital Partners, and Altimeter Capital. The firm acquires traditional businesses like accounting and IT firms and embeds AI into their workflows, with OpenAI holding an ownership stake and sending employees to accelerate adoption. Thrive now has over 70 companies across its Current (accounting) and Shield (IT) platforms, with tax-processing AI agents hitting 98% accuracy and help desk resolution sped up 36x. Part of the new funding launches a third platform targeting regulatory services for physical infrastructure like data centers and utilities.
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