Thinking Machines Lab is negotiating a funding round of at least $1 billion. The AI startup targets a pre-money valuation of $40 billion or more. Accel is reportedly in talks to lead the investment. Nvidia is also considering participation in the round.
The current $40 billion target sits below the $50 billion-plus valuation the company sought in late 2025. This funding effort follows the July 2026 release of Inkling, the company's first open-weight AI model.
Former OpenAI CTO Mira Murati founded the startup in February 2025. The company previously secured a landmark $2 billion seed round in July 2025.