Thinking Machines discusses $1B round at $40B

Thinking Machines Lab, Mira Murati’s AI startup, is reportedly discussing a raise of at least $1 billion at a valuation of $40 billion, according to TechCrunch’s report on the talks, which cites The Information; existing backer Accel could lead the round if completed. The same report puts annual revenue run rate above $100 million, underscoring the gap between financing narrative and current disclosed scale. Builders should file this as a capital-market signal, not a financing close: Inkling-Small’s open-weight economics show why investors are pricing control and infrastructure access before durable revenue.