Accel in Advanced Discussions to Lead $1B Funding Round for Thinking Machines, Valued at $40B

Thinking Machines: A Rising AI Lab in Talks to Raise $1 Billion

Thinking Machines, an AI lab founded by former OpenAI CTO Mira Murati, is currently in discussions to secure a substantial funding round. The lab is looking to raise $1 billion at a valuation of at least $40 billion, as reported by The Information. Accel, an existing investor, is expected to lead the fundraise, according to sources familiar with the matter.

While the new funding round is significant, it falls slightly short of the $50 billion valuation that Thinking Machines aimed for in its previous fundraising efforts.

With an annual revenue run rate exceeding $100 million, Thinking Machines is proving to be a major player in the AI industry. Despite this impressive financial performance, a $40 billion valuation represents a premium multiple compared to its revenue.

Both Accel and Thinking Machines have yet to provide official comments on the ongoing discussions.

In a recent development, the company launched Inkling, an innovative open-weight model that generates revenue through usage-based compute fees on its Tinker platform. This new offering aims to capitalize on proprietary data adaptation.

Notably, Thinking Machines previously raised $2 billion in a round led by Andreessen Horowitz, one of the largest seed financings in history. Investors, including Nvidia, GV, Lightspeed, and Conviction Partners, were drawn to the company’s leadership team, particularly Mira Murati and her team of former OpenAI researchers.

However, the company has experienced significant departures, with co-founders like Lilian Weng and Luke Metz returning to OpenAI.