OpenAI 参投的 Thrive Holdings 收购安防公司 ADT，企业总价值 153 亿美元
OpenAI-backed Thrive Holdings acquires ADT
- 1Thrive Holdings 以每股 10 美元收购 ADT，股权价值约 76 亿美元，企业总价值 153 亿美元。
- 2该机构由 Josh Kushner 的 Thrive Capital 分拆而来，OpenAI 既是其投资者也是合作伙伴。
- 3OpenAI 向 Thrive 旗下公司提供 AI 模型、技术和前线驻场工程师，Thrive 自称持有超过 75 家公司。
- 4双方未公布具体 AI 安防新品，只称将投资并推出新品，ADT 将成为其智能家居安防业务的基础。
这笔交易的实质是 AI 资本长期持有并改造传统企业，OpenAI 不只出钱，还直接投入模型和驻场工程师。
- 影响：拥有客户基础但缺 AI 能力的传统公司可能成为类似收购的标的；模型厂商以驻场工程师深度介入经营的绑定方式或被复制；智能家居安防赛道的竞争者正在增多。
- 参考：可考虑梳理本行业内客户资产或数据密集但 AI 化程度低的公司，评估并购或被并购两条路径；值得跟踪 Thrive 后续对 ADT 的改造产品，作为传统业务 AI 化的参照样本。
- 依据：交易金额、企业总价值与 OpenAI 合作角色均为两家公司公告口径；75 家持仓为 Thrive 自述，AI 新品仅有计划，尚无具体产品公布。
In Brief
Posted:
12:56 PM PDT · October 29, 2026
Thrive Holdings has acquired physical security company ADT for $10 per share or about $7.6 billion in equity, the companies announced on Thursday. Beyond equity, the total enterprise value of the deal is $15.3 billion, ADT said.
Thrive Holdings is the PE spinout from Josh Kushner’s powerhouse VC firm Thrive Capital. It also counts OpenAI as its partner, as well as an investor. The firm’s mission is to hold other companies long-term, revitalizing them with AI. Currently, Thrive Holdings holds over 75 companies, it says.
As a partner, OpenAI supplies AI models and tech as well as people, otherwise known as forward-deployed engineers, to Thrive’s companies.
Neither ADT nor Thrive announced what new AI-powered security products they will be releasing, but they did tease that the plan was to invest and release new products. “ADT will form the foundation of Thrive Holdings’ smart home security business,” the press release said.
AI-powered physical security is having a moment right now. Apple just entered the field with a new line of smart home and home security products in collaboration with LG and Schneider Electric. Amazon updated its smart home line, including new AI-powered home cameras. And who knows what the future might bring? Some startups are offering AI dog robots as roving security guards.
来源：TechCrunch · AI · techcrunch.com