On Monday, ChatGPT-parent OpenAI announced that it is deepening its enterprise ambitions with a stake in Thrive Holdings.
OpenAI, Thrive Tighten Ties With New AI Partnership
As part of a non-monetary agreement, OpenAI and Thrive Holdings are partnering to bring advanced AI into key parts of the economy, starting with accounting and IT services.
These industries are huge but still rely on old, manual, and disconnected workflows, said Thrive in a blog.
"OpenAI will embed research, product, and engineering teams inside Thrive Holdings' companies to boost speed, accuracy, and cost efficiency while strengthening service quality," the AI startup stated in a separate blog post.
Thrive Holdings — formed this year by Joshua Kushner's Thrive Capital — has reportedly raised more than $1 billion to acquire and overhaul legacy service firms through an AI roll-up strategy.
Joshua Kushner is the younger brother of Jared Kushner, a former White House advisor to Donald Trump and the president’s son-in-law.
OpenAI Share Sale Boosts Valuation To $500 Billion
In August, it was reported that the employees at OpenAI are considering selling nearly $6 billion in shares to investors, including SoftBank Group (OTC:SFTBY) and Thrive Capital.
The deal could reportedly boost OpenAI's valuation to $500 billion, up from its current $300 billion.
Last week, it was reported that OpenAI is testing ads inside ChatGPT, a major shift from its currently ad-free experience.
A leaker, Tibor Blaho, has revealed the beta version of the ChatGPT Android app shows references to an "ads feature," including "bazaar content" and "search ads carousel," suggesting OpenAI may soon introduce ads similar to those on Google Search.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
On Friday, OpenAI CEO Sam Altman said the company is generating far more revenue than the widely reported $13 billion and defended its $1.4 trillion infrastructure investment during an interview on the Bg2 Pod.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Read Next:
Photo Courtesy: Photo Agency on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
