--- title: Thrive Capital’s first investor letter shows how... description: Joshua Kushner's Thrive Capital issued its first formal investor letter, revealing that one fund has grown to about $3.7bn, driven largely by early bets on... canonical: https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4 twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Thrive Capital’s first investor letter shows how completely OpenAI has come to define it | daily.dev og:description: Joshua Kushner's Thrive Capital issued its first formal investor letter, revealing that one fund has grown to about $3.7bn, driven largely by early bets on... og:url: https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4 og:image: https://api.daily.dev/og/posts/J91aLI5X4.png og:image:alt: Thrive Capital’s first investor letter shows how completely OpenAI has come to define it og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Thrive Capital’s first investor letter shows how completely OpenAI has come to define it **[The Next Web](https://daily.dev/sources/tnw)** · 4 min read · 0 upvotes · 0 comments ## Summary Joshua Kushner's Thrive Capital issued its first formal investor letter, revealing that one fund has grown to about $3.7bn, driven largely by early bets on OpenAI and SpaceX. Thrive first invested in OpenAI in 2022 at a $29bn valuation, led a tender at $86bn, and committed roughly $1bn more across rounds valuing the company at $150bn and $285bn. Most of the fund's gains remain unrealized paper marks tied to private valuations, and Thrive is now selling part of its OpenAI stake even while expressing confidence in the company's trajectory. The firm manages roughly $25bn and recently closed a record $10bn fund, amid broader industry doubts about whether AI valuations are justified. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Thrive raises $10B for new fund, its largest yet](https://daily.dev/posts/thrive-raises-10b-for-new-fund-its-largest-yet-icaabnnny) · TechCrunch · 0 upvotes · 0 comments - [Josh Kushner raised $2bn to buy the companies AI is coming for](https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4) · The Next Web · 0 upvotes · 0 comments - [OpenAI-backed Thrive Holdings raises $2B to bring AI to the enterprise](https://daily.dev/posts/openai-backed-thrive-holdings-raises-2b-to-bring-ai-to-the-enterprise-b0vzaki6r) · TechCrunch · 1 upvotes · 0 comments - [Joshua Kushner’s Thrive Capital Discloses $215 Million Amazon Stake](https://daily.dev/posts/joshua-kushner-s-thrive-capital-discloses-215-million-amazon-stake-xoxxftama) · The Next Web · 0 upvotes · 0 comments --- Tags: [#venture-capital](https://daily.dev/tags/venture-capital), [#openai](https://daily.dev/tags/openai), [#spacex](https://daily.dev/tags/spacex) [View this post on daily.dev](https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Thrive Capital’s first investor letter shows how completely OpenAI has come to define it","url":"https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4"},"datePublished":"2026-08-14T08:57:33.885Z","dateModified":"2026-08-14T08:57:51.852Z","description":"Joshua Kushner's Thrive Capital issued its first formal investor letter, revealing that one fund has grown to about $3.7bn, driven largely by early bets on...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/b96b56023ffad6cbdb4d69db4b6052a0?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/b96b56023ffad6cbdb4d69db4b6052a0?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"venture-capital,openai,spacex","timeRequired":"PT4M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"Thrive Capital’s first investor letter shows how completely OpenAI has come to define it"}]} ```