Founders Fund Shifts From Caution to Concentrated Bets on AI

Peter Thiel’s Founders Fund is doubling down on its biggest artificial intelligence bets, embracing a concentrated strategy as rivals spread their bets across a wide swath of startups.

Among them are OpenAI, data center builder Crusoe and General Matter, a nuclear fuel startup the firm has incubated, Founders Fund said at its recent annual general meeting for investors. In contrast, other venture firms have poured money across the AI landscape, often backing multiple companies competing in the same markets.