Joshua Kushner’s Thrive Capital invested approximately $100 million in Shopify. The venture firm communicated the new stake to its stakeholders. Thrive Capital is known for backing prominent tech startups like OpenAI.
The investment represents a strategic bet on artificial intelligence driving growth in the commerce sector. This move marks a significant shift into the public market for the firm.
Shopify shares rose 2% during afternoon trading. The stock increase occurred on Thursday, May 14th.