OpenAI Holds Equity in Thrive Holdings, Creating Circular Tie With Its Own Backer

In December 2025, OpenAI took an ownership stake in Thrive Holdings, a Thrive Capital spinout that has acquired more than 70 businesses with 35 in-house engineers. Thrive Capital had previously backed OpenAI. The reciprocal equity ties an AI lab to a venture-backed roll-up vehicle in a structure venture capital has rarely seen.