AI Infrastructure Investment Surges with Multi-Billion Dollar Deals

The AI infrastructure finance landscape saw a flurry of major funding announcements this week, with startups and established firms raising billions to expand AI capabilities. Thrive Holdings, an AI-focused acquirer of service firms, raised $2 billion at a $12 billion valuation, with backing from SoftBank, D1 Capital Partners, and Alitmeter Capital. Swedish vibe-coding company Lovable confirmed a $400 million Series C round at a $13.3 billion valuation, led by Menlo Ventures and co-led by EQT's Scaleup Europe Fund, following the startup reaching $500 million in annualized run rate revenue in June. Additionally, River AI, a two-month-old startup founded by xAI co-founder Igor Babuschkin, secured $1.1 billion in a round led by General Catalyst for its personal agents vision.