OpenAI buys stake in Thrive Holdings to push AI into accounting, IT services

Dec 1 (Reuters) – ChatGPT-maker OpenAI has taken a stake in private equity firm Thrive Holdings as part of a partnership to embed artificial intelligence into traditional industries such as accounting and IT services, the companies said on Monday. OpenAI will work with Thrive's engineers and industry specialists to integrate its technology into business processes that remain largely manual and fragmented despite generating hundreds of billions of dollars in annual revenue. Thrive, which operates in accounting and IT services, said the collaboration aims to streamline workflows and reduce complexity for employees while improving customer experience. The company plans to expand the effort to other sectors with high-volume processes and aging infrastructure. OpenAI's research and applied AI teams will help train models on company-specific data and expert feedback, creating feedback loops between research and operations to improve performance over time, the companies said. The financial terms of the deal were not disclosed. Thrive Capital invested more than $1 billion in OpenAI in late 2024, a bet that has paid off as the ChatGPT-maker's valuation has more than tripled since then. The New York-based firm set up Thrive Holdings earlier this year to buy service providers such as accounting and IT firms, aiming to overhaul their operations using AI. (Reporting by Kritika Lamba in Bengaluru; Editing by Krishna Chandra Eluri)

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