OpenAI-backed Thrive Holdings has raised $2 billion at a $12 billion valuation to acquire traditional service businesses and introduce AI into their day-to-day operations. The funding signals investor confidence in hands-on enterprise AI deployment, particularly through Thrive’s close relationship with OpenAI, which holds an ownership stake and has sent staff to help portfolio companies adopt AI.

Thrive’s platforms now include more than 70 businesses: Current, an accounting group of over 50 firms and 2,000 professionals, and Shield, an IT group with about 20 companies. Thrive says its TaxAI processed over 7,000 tax returns with 98% accuracy and reduced preparation times by more than 30%, while Shield cut help-desk resolution times by 36 times; the new capital will also support a regulatory-services platform for physical infrastructure.