Thrive Capital
Joshua Kushner (founder); registered investment adviser
Concentrated, high-conviction, late-stage AI — famously few bets, sized huge. Defined by an enormous, repeatedly-doubled-down OpenAI position. The purest single-name AI conviction play among the marquee firms.
Size$50B
TypeVC
Top holdingOpenAI
Positions
Key positions
OpenAI
The signature bet: ~$130M in 2022 at ~$29B → ~$1B at $150B (late 2024) → another ~$1B at $285B (Feb 2026); OpenAI in turn took a stake in Thrive Holdings (Dec 2025)
Anthropic
Holds a position per 2026 disclosures — exposure to the other frontier leader
Stripe
Long-held fintech marquee
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QAI analysis
Our take
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