Business · Companies · 2 hrs ago
Thinking Machines Lab seeks $5 billion at a $40 billion valuation
Thinking Machines Lab is seeking $5 billion in new funding at a $40 billion pre-money valuation, according to people familiar with the deal.
The AI startup was founded by Mira Murati, a former OpenAI chief technology officer.
Accel is leading the round, which could close as soon as this week.
The company previously raised a $2 billion seed round and was valued at more than $10 billion in its last public round last year.
The proposed valuation would more than triple its previous public valuation, showing investors are still making large bets on AI companies.
Thinking Machines has also faced the loss of founding team members to rival firms amid an intensifying competition for AI talent.
Thinking Machines Lab is raising $5 billion at a $40 billion pre-money valuation, according to sources cited by Business Insider.
Accel is leading the funding round, which could close as soon as this week.
The proposed valuation would more than triple the company’s valuation in its last public round.
The company was founded by former OpenAI chief technology officer Mira Murati.
- Who
- Thinking Machines Lab, founded by Mira Murati, is raising the funds, with Accel leading the round.
- What
- The company is seeking $5 billion at a $40 billion pre-money valuation.
- When
- The round could close as soon as this week, according to Business Insider.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Thinking Machines Lab raised a $2 billion seed round and was valued at more than $10 billion.
Talks for a new round at a $50 billion valuation were abandoned.
The Information reported that the company was in talks to raise a new funding round.
Thinking Machines Lab released a new version of its Tinker tool, saying it had improved in AI coding.
The company is expected to close the $5 billion round, according to Business Insider.
- Funding sought
- $5 billion
- Proposed valuation
- $40 billion pre-money
- Lead investor
- Accel
- Founder and CEO
- Mira Murati
- Previous seed round
- $2 billion last year