GoKawiilAccel in talks to lead $1B raise for Thinking Machines at $40B valuation
Thinking Machines, the AI lab started by former OpenAI CTO Mira Murati, is reportedly negotiating a $1 billion funding round that would value it at $40 billion or more, with existing investor Accel potentially leading the deal. That figure would mark a step down from the $50 billion valuation the startup had sought late last year, though it still dwarfs the company's reported annual revenue run rate of over $100 million.
GoKawiil's interpretation of the reporting above, not reported fact.
A $40 billion price tag on a company generating roughly $100 million in revenue underscores how heavily investors are betting on founder pedigree and AI hype rather than current financial performance. The markdown from the earlier $50 billion target, combined with recent co-founder departures back to OpenAI, suggests some cooling of confidence even as capital keeps flowing into elite AI labs.
- Thinking Machines is reportedly negotiating a $1B raise at a $40B+ valuation, led by Accel.
- The new valuation is lower than the $50B figure the startup sought previously.
- Revenue remains modest at over $100M annually, implying a very high valuation multiple amid recent co-founder exits.
Source: techcrunch.com — Marina Temkin, 2026-09-03
Published there as: “Accel reportedly in talks to lead $1B round for Thinking Machines at $40B valuation”
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