A Thrive Capital fund has swelled to about $3.7bn on OpenAI and SpaceX bets, Joshua Kushner’s first formal investor letter reveals, and the firm is quietly selling part of its OpenAI stake.

Thrive Holdings has raised $2 billion in new funding at a $12 billion valuation from investors like SoftBank, D1 Capital Partners, and Alitmeter Capital.

Thrive Holdings raised $2B at a $12B valuation from SoftBank, D1 Capital, and Altimeter to acquire service businesses and transform them using