Mira Murati's Thinking Machines Lab in Talks to Raise $1B+ at $40B Pre-Money, Below Prior $50B Target

Mira Murati's Thinking Machines Lab is in advanced talks to raise more than $1 billion at roughly a $40 billion pre-money valuation, according to The Information. That mark is lower than the $50B+ valuation the ex-OpenAI CTO's startup sought in an earlier round last year, a rare down-move in a market where frontier-lab valuations have generally been climbing.