OpenAI-Backed Thrive Holdings Buys ADT in $15.3 Billion Deal
OpenAI-backed Thrive Holdings buys ADT for $10 a share, valuing its equity at $7.6 billion and the AI-focused security deal at $15.3 billion overall.
Summary
On Thursday, October 29, 2026, Thrive Holdings acquired physical security company ADT for $10 a share, about $7.6 billion in equity. ADT puts the deal’s total enterprise value at $15.3 billion. Thrive Holdings, the private equity spinout of Josh Kushner’s Thrive Capital, has OpenAI as an investor and partner and says it owns more than 75 companies, which it plans to hold long term and revitalize with AI.
OpenAI supplies Thrive companies with models, technology and forward-deployed engineers. ADT will anchor Thrive’s smart home security business, with investment and new products planned, but neither company identified specific AI-powered offerings or release dates. Competition is expanding as Apple enters smart home security with LG and Schneider Electric, Amazon updates its range with AI-powered cameras, and startups offer AI robotic dogs as roving guards.
Positives
- The $10 per share acquisition values ADT’s equity at about $7.6 billion and gives Thrive a major physical security business.
- OpenAI supplies Thrive’s companies with AI models, technology and forward-deployed engineers.
- ADT will become the foundation of Thrive Holdings’ smart home security business.
- Thrive plans long-term investment and new products as part of its AI-focused ownership strategy.
- More than 75 companies already sit within Thrive Holdings’ portfolio.
Risks & concerns
- Neither ADT nor Thrive identified specific AI-powered security products or release dates.
- Apple has entered smart home security with LG and Schneider Electric, increasing competition.
- Amazon has updated its smart home range with new AI-powered cameras.
- Startups offering AI robotic dogs as roving guards are further widening the competitive field.