Thrive Capital
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Thrive Capital Invests ~$1 Billion in OpenAI, Source Reports
Thrive Capital has reportedly invested $1 billion in OpenAI at a $285 billion valuation, reinforcing its status as a key backer. This is separate from OpenAI’s ongoing, potentially $100+ billion funding round aiming for an $800 billion valuation, in which Thrive is also expected to participate. OpenAI also acquired a stake in Thrive Holdings. The large funding round, expected to involve Nvidia, SoftBank, and Amazon early on, highlights immense confidence in AI’s future.
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Jim Siders, Palantir CIO, Joins Thrive Capital’s Shield Technology
Thrive Capital has appointed former Palantir CIO Jim Siders as CEO of its new IT services venture, Shield Technology Partners. Aiming to acquire stakes in IT firms and accelerate their growth with AI and advanced engineering, Shield has over $100 million in initial capital. Siders’ extensive experience at Palantir is expected to drive value and operational expertise into the sector. Shield also offers equity in itself to acquired companies, fostering collaborative growth.
