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Dependant on Karmically potent thoughts, birth occurs. But not all thoughts are Karmically potent.
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Existence in the rebirth cycle is due to ignorance. Thoughts either good/bad arises due to ignorance. Nirvana is a state where delusion/ignorance is completely destroyed. Hence the thoughts of a person who has achieved nirvana are netural. And does not crave for another existance.
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The crave for existence leads to existence.
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If author aims to get an answer in terms of existence of all life, then the answer is No, thought does not lead to existence. Nor it is required for existence.
For the very fact that plants or bacteria are not self-conscious, but rather simply conscious, and they are considered life. They are able to concur with each other, but without conscious processes and self-awareness, and facility of conceptualisation.
Everything with DNA is considered life that exists.
Thought is, however, required to perceive existence of life and concept of existence of life, it is an abstract term in the realm of mental objects. So, in this context, Yes, but it is dependant.
Overall, just because something does not exist, manifest or can be perceived at this very moment, does not mean that it doesn't exist at all.
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Thoughts exist and lives exist and sentient beings exist. These phenomena are mutually dependent and a first cause cannot be found. This whole phenomenal world is bound up with infinite sets of mutually dependent causes and conditions that are utterly suffused with relative and co-dependent existence. It is not the case that:
"In the beginning, a thought came into existence and dependent upon that life came into existence."
This is not how it is! No beginning can be found or ascertained.
If one looks at "thought" it can be known that "thought" cannot be contemplated without first depending upon "life" and "life" cannot be thought of without first depending upon "thought." They are mutually dependent and along with them whole infinite sets of relative causes and conditions that together conjure up this phenomenal world.