Accel in Talks to Lead $1 Billion Funding Round for AI Startup Thinking Machines at $40 Billion Valuation

Thinking Machines, an artificial intelligence company established early last year by former OpenAI CTO Mira Murati, is reportedly in talks to secure $1 billion in funding at a valuation of approximately $40 billion. According to multiple sources, including The Information, venture capital firm Accel is expected to lead this financing round. This potential valuation is lower than the $50 billion figure the company aimed for in late 2023. The company’s revenue run rate currently exceeds $100 million annually, which implies a notably high revenue multiple given the proposed valuation. Thinking Machines has not publicly commented on the discussions, and Accel has also declined to respond. In July, Thinking Machines launched Inkling, an open-weight AI model that generates revenue through usage-based compute fees on its Tinker platform, which customizes models using proprietary data. This product reflects the company’s focus on scalable AI solutions. Previously, Thinking Machines raised $2 billion in a seed funding round led by Andreessen Horowitz, with participation from Nvidia, GV, Lightspeed, and Conviction Partners. That round valued the startup at $12 billion and was supported largely due to the expertise of Murati and other former OpenAI researchers involved. Since then, the company has experienced several departures of key personnel, including co-founders Lilian Weng and Luke Metz, who have returned to OpenAI. The ongoing funding efforts and leadership changes highlight the challenges and rapid evolution within the competitive AI startup landscape.