Thinking Machines Negotiates $1 Billion Raise at $40 Billion Valuation Below $50 Billion Target

Accel is in discussions to lead a new financing round for the venture founded by Mira Murati, with Nvidia considering participation. Thinking Machines is negotiating to raise at least $1 billion at a pre-money valuation of $40 billion or more, per The Information. This funding push follows the July release of the company's first artificial intelligence model, Inkling.

The $40 billion valuation is lower than the $50 billion level the startup sought late last year when it discussed raising between $4 billion and $5 billion. Despite being less than two years old, the firm already generates hundreds of millions of dollars in annualized revenue.