Black Forest Labs raises $300M at $3.25B valuation; plus, OpenAI’s investment into Thrive Holdings is its latest circular deal

The round was co-led by Salesforce Ventures and Anjney Midha (AMP), and saw participation from a16z, NVIDIA, Northzone, Creandum, Earlybird VC, BroadLight Capital, General Catalyst, Temasek, Bain Capital Ventures, Air Street Capital, Visionaries Club, Canva and Figma Ventures.

Also, analysts will be watching to see if Thrive-owned firms actually succeed in building long-term profitable businesses using OpenAI’s tech, or if the result is really just pumped up valuations based on speculative market potential.

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