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Accel reportedly in talks to lead $1B round for Thinking Machines at $40Bvaluation
Thinking Machines, AI lab founded by ex-OpenAI CTO Mira Murati, is engaging Accel for a $1B fundraising to achieve a $40B valuation. This marks a decrease from a previously sought $50B valuation. The company's revenue run rate exceeds $100M, indicating a significant revenue multiple. High-profile departures from the team have been noted since its last major funding round.
Key points
- Accel is reportedly in talks to lead a $1B funding round for Thinking Machines.
- The new funding round would value Thinking Machines at $40B, lower than the previously sought $50B valuation.
- Thinking Machines has an annual revenue run rate of over $100M, indicating a high revenue multiple at $40B valuation.
- The company previously raised $2B, one of the largest seed financings ever, valued at $12B.
- Key products include 'Inkling,' an open-weight model generating revenue through usage-based fees.
- The company has seen departures from its founding team, with some returning to OpenAI.
Why it matters
- The funding environment in 2025 continues to favor AI startups, driven by demand for generative models and cloud-based solutions.
- Investor interest in AI technologies has surged since 2023, with huge valuations reflecting the growing market potential.
- High-profile tech disruptors, like Thinking Machines, illustrate the volatility and rapid evolution in the AI landscape.
The rapidly changing landscape of AI investment reflects both opportunity and risk, with Thinking Machines positioning itself strategically despite leadership changes and market valuation adjustments.