Thrive Capital deploys $7B in 24 hours

Thrive Capital said on Thursday it had disclosed more than $7 billion of investments into artificial intelligence companies within 24 hours, a burst of dealmaking that spanned defense technology, drug discovery and healthcare software. The firm pointed to three transactions announced between May 12 and May 13: Anduril’s $5 billion funding round, Isomorphic Labs’ $2.1 billion Series B and Forus’s raise of more than $160 million. The disclosures came days after Thrive’s portfolio companies and partners published separate statements on the financings. The sequence offers a concentrated look at where one of the most active AI investors is putting large amounts of capital. ### Which companies were in the 24-hour burst? Anduril said on May 13 that it raised $5 billion in a Series H round that valued the defense technology company at $61 billion. Reuters reported the round was led by Thrive Capital and Andreessen Horowitz, and Anduril said the money would go toward manufacturing capacity, research and development, and infrastructure. Isomorphic Labs said on May 12 that it raised $2.1 billion in Series B funding. The London-based company said Thrive Capital led the financing, with Alphabet, GV, MGX, Temasek, CapitalG and the UK Sovereign AI Fund also participating. Forus said on May 12 that it raised more than $160 million and reintroduced itself under a new name after operating as Tandem. (msn.com) The New York company said its backers include Thrive Capital, General Catalyst, Accel, Bain Capital Ventures, Redpoint, BoxGroup and Pear VC. ### Why does Anduril account for most of the total? The $5 billion Anduril financing made up the largest share of the disclosed total by a wide margin. (isomorphiclabs.com) The company, based in Costa Mesa, California, said the round doubled its valuation from roughly a year earlier, when it was valued at $30.5 billion, according to Reuters and other reports. (forus.com) Brian Schimpf, Anduril’s chief executive, said in a company statement cited by CNBC that the company would “aggressively” invest in manufacturing, research and infrastructure. Reuters said the company’s latest raise followed earlier reporting in March that it was seeking about $4 billion from Thrive Capital and Andreessen Horowitz. ### What is Thrive backing outside defense? (msn.com) Isomorphic Labs said the new capital would expand its AI drug design work and clinical pipeline. The company was launched within Alphabet and has built on DeepMind’s AlphaFold work, according to its company materials and prior funding disclosures. Forus said its platform connects doctors, pharmacies, payers and biopharma companies to help patients start treatment faster. (cnbc.com) The company said provider adoption grew 10-fold year over year for the last two years and that it now works with providers across all 50 states. ### What do market data show about AI fundraising? (isomorphiclabs.com) PitchBook said in a report published on May 12 that the first quarter of 2026 showed continued heavy investor concentration in AI. The report said it analyzed recent venture activity across the sector, though the specific “$0.90 per $1 deployed versus $1.70 for non-AI startups” comparison cited in social media posts was not visible in the search excerpt reviewed for this story. (businesswire.com) Inc. reported last year, citing PitchBook data for the first quarter of 2025, that more than 70% of U.S. venture capital went to AI investments. That earlier figure underscores the direction of travel, though it refers to a different period than Thrive’s May 2026 disclosures. ### What comes next for these companies? (pitchbook.com) Anduril said in February that its new Long Beach campus is expected to come online in mid-2027, adding office and industrial space as it expands production. The company also said in January 2025 that its Arsenal-1 manufacturing facility would be located in Columbus, Ohio. (inc.com) Isomorphic Labs said the Series B money will advance therapeutic programs into the clinic, while Forus said the new financing will support expansion of its network for doctors, pharmacies, payers and drugmakers. Those next steps will be tracked through company updates from Isomorphic Labs, Forus and Anduril following the May 12 and May 13 financing announcements. (isomorphiclabs.com) (anduril.com)