Thinking Machines raises $10 million in funding at a $40 billion valuation

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Thinking Machines is raising a $10 million funding round at a $400 billion valuation, led by Accel. This AI and crypto news follows the lab’s July launch of the open-source model Inkling and over $100 million in annualized revenue through Tinker. Previously, it raised $20 million at a $120 billion valuation from a16z, NVIDIA, and GV. Several co-founders have returned to OpenAI. The new round falls short of the $500 billion valuation target.

ChainCatcher report, according to TechCrunch, Thinking Machines, the AI lab founded by former OpenAI CTO Mira Murati, is in talks to raise $1 billion at a valuation of at least $40 billion, with existing investor Accel leading the round. The company was established earlier last year and launched its open-weight model Inkling in July, charging users for compute power on a usage-based model via its Tinker platform, generating annualized revenue exceeding $100 million. Previously, Thinking Machines raised $2 billion at a $12 billion valuation, led by a16z with participation from NVIDIA, GV, and others. Since then, several co-founders, including Lilian Weng and Luke Metz, have returned to OpenAI. If this round is completed, the valuation will be below the $50 billion target rumored at the end of last year.

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