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AI Startup Thinking Machines Eyes $1 Billion Funding at $40 Billion Valuation

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Thinking Machines, the AI lab led by former OpenAI CTO Mira Murati, is reportedly in discussions to raise $1 billion at a valuation of at least $40 billion, as reported by The Information.

  • Founding and Backing: Founded early last year, the lab is backed by influential players like Accel and previously attracted extensive backing from Andreessen Horowitz, Nvidia, GV, Lightspeed, and Conviction Partners.
  • Financial Metrics: The company’s annual revenue run rate is over $100 million, which positions the proposed $40 billion valuation as a notably high revenue multiple.
  • Product and Innovation: In July, Thinking Machines launched Inkling, an open-weight model generating revenue through compute fees on their Tinker platform.
  • Challenges and Changes: The company has faced internal challenges, with notable departures of co-founders Lilian Weng and Luke Metz, who have moved back to OpenAI.

Existing backer Accel is considering leading the new funding round, though neither Accel nor Thinking Machines provided immediate comments. The current valuation talks come a year after the company aimed for a $50 billion valuation, indicating a slight scale-back in expected growth.