OpenAI has entered into another complex, circular business arrangement, announcing an ownership stake in Thrive Holdings, a private equity firm whose parent company, Thrive Capital, is one of OpenAI’s major investors. According to an anonymous source cited by The Financial Times, OpenAI did not pay for the stake. Instead, the company will provide Thrive Holdings’ portfolio companies with access to its employees, AI models, products, and services. In return, OpenAI may receive a share of future returns from Thrive Holdings’ investments. The partnership will focus on two key sectors that are central to Thrive Holdings’ strategy: IT services and accounting. These areas, described as “high-volume, rules-driven, workflow-heavy processes,” are seen as ideal for immediate AI-driven improvements, with the goal of increasing speed, accuracy, and cost efficiency while enhancing service quality. Joshua Kushner, CEO of Thrive Holdings and Capital, and the younger brother of Jared Kushner, said that AI represents a unique shift compared to past technological disruptions. “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,” he said. The move aligns with broader political and economic trends, as former President Donald Trump and his administration allies, including David Sacks, have positioned themselves as strong advocates for AI development and its economic potential. Thrive Holdings’ strategy involves acquiring companies in the IT and accounting sectors and transforming them through AI integration. As part of the deal, OpenAI will gain access to data from these companies, which could be used to further train its AI models. This creates two potential benefits for OpenAI: increased deployment of its technology within a growing network of businesses, and access to a new, rich source of real-world data for model refinement. An insider close to Thrive Capital described OpenAI as effectively serving as the equity group’s “research arm.” The arrangement may signal a new model for how AI companies collaborate with private equity firms—blending investment, technology, and data in a tightly interwoven ecosystem. OpenAI’s COO, Brad Lightcap, suggested this deal could be the first of many similar partnerships, indicating that OpenAI plans to expand its collaborations across the private equity landscape. The move underscores the growing trend of circular investments and reciprocal arrangements among a small group of influential players in the AI industry, driven by fear of missing out and the pursuit of strategic dominance.