Former OpenAI CTO Mira Murati’s startup Thinking Machines has surged to a $40 billion valuation in less than two years since its founding.
1 hours ago
Beating AI News reports that Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, is in talks for a new financing round. The company plans to raise at least $10 billion, with a pre-money valuation of no less than $40 billion. Existing investor Accel is in discussions to lead the round, while Nvidia is also considering participating in the deal, which has not yet been finalized. This valuation is significantly higher than the previous round: when Thinking Machines raised $2 billion last year, its pre-money valuation stood at $10 billion, with a post-money valuation of $12 billion. Calculated on the same pre-money basis, the new round’s valuation is at least four times that of over a year ago. Notably, the company had sought a valuation of more than $50 billion at the end of last year, a target it has since lowered. Thinking Machines has also begun generating substantial revenue, with annualized income of at least several hundred million dollars. Revenue primarily comes from Tinker, a platform where customers pay to access its computing power and tools to fine-tune AI models on their own data. The firm’s first self-developed open-weight model, Inkling, has also been integrated into Tinker. This year, Thinking Machines signed a long-term computing power partnership with Nvidia, planning to deploy at least 1GW of the Vera Rubin system, with Nvidia making an additional investment. The new financing round will be used for model training, server leasing, and talent recruitment.
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