Thinking machines seeks $1b funding at $40b valuation, accel in talks to lead

Thinking Machines, an AI lab founded last year by former OpenAI CTO Mira Murati, is reportedly in advanced talks to raise $1 billion at a valuation of at least $40 billion, according to The Information. Accel, an existing backer, is expected to lead the round. If completed, the funding would value the company below the $50 billion target it sought late last year. The startup’s annual revenue run rate is over $100 million, which implies an extremely high revenue multiple at the $40 billion valuation. The company previously raised $2 billion in a historic seed round, valued at $12 billion, led by Andreessen Horowitz. Inkling, an open-weight model introduced in July, generates revenue through usage-based compute fees on its Tinker platform. However, Thinking Machines has experienced notable departures, including co-founders Lilian Weng and Luke Metz, who have returned to OpenAI. Accel and Thinking Machines did not immediately comment on the reports.