According to a report by The Information, AI lab Thinking Machines, founded by former OpenAI CTO Mira Murati, is in discussions to raise $1 billion in funding at a valuation of at least $40 billion. Venture capital firm Accel is reportedly in talks to lead this funding round [1].

If completed, this new funding round would value Thinking Machines below the $50 billion valuation the company reportedly sought late last year. The company’s annual revenue run rate is reported to be over $100 million, indicating that a $40 billion valuation would reflect an exceptionally high revenue multiple [1].

The article also notes that Thinking Machines previously raised a $2 billion round in a seed financing that valued the company at $12 billion, with Andreessen Horowitz leading the investment. However, the startup has experienced several high-profile departures, including co-founders Lilian Weng and Luke Metz returning to OpenAI [1].

References: [1] https://techcrunch.com/2026/09/03/accel-reportedly-in-talks-to-lead-1b-round-for-thinking-machines-at-40b-valuation/

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