Key facts
- Thinking Machines is in discussions to raise $1 billion at a valuation of at least $40 billion.
- Accel is reportedly in talks to lead the fundraising round.
- The company's annual revenue run rate exceeds $100 million.
- The AI lab was founded by former OpenAI CTO Mira Murati.
- The startup's previous funding round valued it at $12 billion.
Thinking Machines, an AI startup founded by former OpenAI CTO Mira Murati, is reportedly in discussions to secure $1 billion in funding at a valuation of at least $40 billion. The Information reported that existing investor Accel is in talks to lead this round.
This potential valuation is lower than the $50 billion the company reportedly sought late last year. Thinking Machines' annual revenue run rate is said to be over $100 million, which, at a $40 billion valuation, represents a high revenue multiple.
The company introduced Inkling, an open-weight model, in July. Inkling generates revenue through usage-based compute fees for adapting models on proprietary data via its Tinker platform.
In its previous funding round, a $2 billion seed financing, Thinking Machines was valued at $12 billion. That round was led by Andreessen Horowitz and included investments from Nvidia, GV, Lightspeed, and Conviction Partners, largely based on the reputation of Murati and her team of former OpenAI researchers.
Since its last funding, Thinking Machines has experienced several high-profile departures, including co-founders Lilian Weng and Luke Metz, who have returned to OpenAI.