OpenAI has entered into a new ownership arrangement that has drawn attention for its circular structure, after revealing it has taken a stake in Thrive Holdings, a private equity firm created by Thrive Capital. Thrive Capital is already one of OpenAI’s largest backers, making the latest move another example of the tight financial relationships shaping the artificial intelligence sector. According to a report in The Financial Times, the arrangement did not require OpenAI to spend money on the stake. Instead, the company plans to supply Thrive Holdings’ businesses with access to its technology and staff.
An anonymous source cited by the newspaper said the deal also allows OpenAI to receive future payouts linked to Thrive Holdings’ investment returns. It highlights how a small group of investors, founders, and technology companies continue to trade influence and value in an industry defined by aggressive competition, rapid product development, and fear of missing out. With major players seeking to secure strategic positions, partnerships such as this are becoming increasingly common.
Focus on IT services and accounting
The partnership will centre on two sectors prioritised by Thrive Holdings: IT services and accounting. OpenAI said these fields are suited to AI because they involve large volumes of repetitive work, clear rules, and established processes. According to the announcement, it sees significant potential for its platform to improve accuracy, increase speed, and reduce costs, all while raising the quality of the services delivered.
The aim is to integrate AI systems into operational tasks that are often labour-intensive and prone to errors. Both companies believe the efficiency gains could be substantial, especially as organisations worldwide face pressure to modernise and automate administrative functions. With IT services and accounting forming essential parts of business infrastructure, the move hints at a broader strategy to reshape everyday business operations using AI tools.
Joshua Kushner, who serves as chief executive of both Thrive Holdings and Thrive Capital, said the current wave of AI differs from earlier technological shifts. He noted previous innovations reshaped industries “from the outside in,” whereas AI is emerging as a foundational tool that professionals can use within their existing roles. “We believe this paradigm shift will happen from the inside out as domain experts and practitioners use AI as a native tool to reshape their fields,” Kushner said.
Kushner has long maintained an interest in technology and investment, while his wider family ties have kept him in the public eye. President Trump, who is connected to Kushner through his son-in-law Jared Kushner, has been a strong supporter of the AI sector. Members of his administration, including David Sacks, also stand to benefit from the continued rapid expansion of AI technologies and the investment surrounding them.
Data access and new opportunities
Thrive Holdings’ intention to acquire companies in IT services and accounting is part of a wider plan to modernise those industries through AI integration. The Financial Times reported that the agreement with OpenAI will grant the start-up access to data from Thrive Holdings’ portfolio companies, which can be used to train future AI models. In an environment where high-quality data is among the most valuable resources, the arrangement gives OpenAI a potentially powerful advantage.
This could serve the company in several ways. First, it may allow OpenAI to embed its products more deeply within Thrive Holdings’ businesses, increasing usage of its tools across the portfolio. Second, the data itself provides new material for training, which is crucial for enhancing the capability of its large models. As organisations look to apply AI to complex tasks, the breadth and quality of training data will be a major factor in determining how effective these systems can be.
A source familiar with Thrive Capital’s thinking told The Financial Times that OpenAI would serve as the firm’s “research arm,” providing insights and technical expertise to guide future acquisitions and improvements. This creates a feedback loop in which both organisations gain from shared knowledge, access to data, and closer commercial ties.
OpenAI also sees the relationship as a template for broader engagement with the private equity industry. The same anonymous source told the newspaper that the company aims to work with more investment firms, many of which are seeking ways to adopt AI across their holdings. By partnering with private equity groups, OpenAI gains entry into a diverse set of companies across multiple sectors, potentially expanding its reach far beyond the technology market alone.
A model for future deals
OpenAI’s chief operating officer, Brad Lightcap, said the Thrive arrangement is likely to be the first in a series of similar deals. As AI becomes more central to business operations, technology companies are looking for opportunities to form deeper partnerships with investors and service providers. These collaborations allow AI developers to access data, commercial networks, and real-world environments where new technologies can be tested and refined.
The circular nature of the deal, however, has prompted industry discussion. With investors supporting companies that subsequently invest back into their own financial backers, the flow of influence can appear unusually concentrated. Critics argue that such structures may reinforce the dominance of a small group at the forefront of AI development. Supporters, meanwhile, say the arrangement demonstrates confidence, long-term alignment, and shared ambition between major players.
Regardless of how it is perceived, the deal underscores the growing importance of artificial intelligence in global business. Companies across finance, technology, and professional services are exploring ways to automate tasks, reduce costs, and improve accuracy. By forming deeper ties with private equity, OpenAI is positioning itself as a central provider of these tools, while also gaining resources that could help it build more advanced AI models in the years ahead.
As competition in the AI market intensifies, partnerships that combine technology expertise with investment power may become a defining trend. OpenAI’s latest move suggests the company is preparing for a future in which AI development, data access, and commercial integration are tightly intertwined.
