---
title: "Thinking Machines in talks for $1B round at $40B valuation"
url: https://www.parallelquant.com/posts/thinking-machines-in-talks-for-1b-round-at-40b-valuation-fc9ed2
source_name: "TechCrunch"
source_url: https://techcrunch.com/2026/09/03/accel-reportedly-in-talks-to-lead-1b-round-for-thinking-machines-at-40b-valuation/
published: 2026-09-03T19:36:29.000Z
topics: ["business", "llms"]
publisher: "Parallel Quant"
---

# Thinking Machines in talks for $1B round at $40B valuation

*2026-09-03 · Source: [TechCrunch](https://techcrunch.com/2026/09/03/accel-reportedly-in-talks-to-lead-1b-round-for-thinking-machines-at-40b-valuation/)*

Accel is reportedly in talks to lead a $1 billion funding round for Thinking Machines at a $40 billion valuation. The startup's annual revenue run rate reportedly stands at over $100 million.

**Why it matters:** A $40 billion valuation against roughly $100 million in run-rate revenue shows investors are still pricing frontier AI labs on long-term model potential rather than near-term revenue, echoing the early valuation trajectories of OpenAI and Anthropic. Thinking Machines, founded by former OpenAI CTO Mira Murati, would become one of the highest-valued AI labs without a widely deployed consumer product.

**Topics:** business, llms

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Read the original: https://techcrunch.com/2026/09/03/accel-reportedly-in-talks-to-lead-1b-round-for-thinking-machines-at-40b-valuation/
Canonical: https://www.parallelquant.com/posts/thinking-machines-in-talks-for-1b-round-at-40b-valuation-fc9ed2
Published by Parallel Quant — https://www.parallelquant.com