Thinking Machines in Talks for $1B+ Raise at $40B Valuation, NVIDIA Weighs Multi-Billion Investment
Multiple The Information reporters reveal that Thinking Machines Lab, founded by Mira Murati, is in talks to raise over $1 billion at a pre-money valuation of at least $40 billion, with Accel discussing the lead. Follow-up reporting indicates the round is near closing and NVIDIA is negotiating to invest $2.5–3 billion, potentially becoming a major backer.
Confirmed
- Steph Palazzolo first disclosed the $40 billion valuation and $1B+ raise; colleague amir reported NVIDIA's $2.5–3 billion negotiation (sourced from a16z); reporter Paula Vapadapu reported the round is close to completion with substantial NVIDIA funding
- Round size of at least $1 billion, pre-money valuation of at least $40 billion
- Accel in discussions to lead
- NVIDIA is already an investor and infrastructure partner
- The valuation is below the $50B+ figure floated last autumn
Unconfirmed
- All figures remain subject to negotiation; final terms are not settled
- A view circulated via ivanbezdomny that a $30 billion acquisition is not impossible — analysis, not fact
Why it matters
- Analysis relayed by ivanbezdomny argues that despite talent and founder departures, the company shipped a competitive frontier model, making it highly valuable; its earlier fundraising struggles appear reversed thanks to NVIDIA's backing
- A $2.5–3 billion NVIDIA investment would rank among the largest single corporate checks in AI startup financing, underscoring that frontier model capability remains the market's key pricing factor
2026-09-04 ~ 2026-09-05 · 9 related posts
- Episode 1: Thinking Machines in Talks for $1B+ Raise at $40B Valuation, NVIDIA Weighs Multi-Billion Investment(2026-09-04, 9 posts)
- Episode 2: Nvidia Reportedly in Talks to Lead Thinking Machines Round at $40B+ Valuation(2026-09-07, 5 posts)
Primary sources
- Mira Murati's Thinking Machines in talks to raise $1b+ at $40b+ valuation — steph_palazzolo ·
- Nvidia in Talks to Put $2.5B-$3B into Thinking Machines Lab at ~$40B Valuation — steph_palazzolo ·
- Thinking Machines Lab Closing $40B Round, Potentially With Lots of Nvidia Money — steph_palazzolo ·
- [source] Mira Murati's Thinking Machines in talks to raise $1b+ at $40b+ valuation — steph_palazzolo · 2026-09-04
- Murati's Thinking Machines in talks to raise $1B at $40B pre-money valuation — rohanpaul_ai · 2026-09-04
- Thinking Machines eyes $40B valuation as NVIDIA's $50B M&A spree lifts AI premiums — ivan_bezdomny · 2026-09-04
- VC math: Cursor deal looks great for SpaceXAI, Thinky still worth a $30B+ acquihire — ivan_bezdomny · 2026-09-04
- [source] Nvidia in Talks to Put $2.5B-$3B into Thinking Machines Lab at ~$40B Valuation — steph_palazzolo · 2026-09-04
- [source] Thinking Machines Lab Closing $40B Round, Potentially With Lots of Nvidia Money — steph_palazzolo · 2026-09-04
- Thinking Machines reportedly raising ~$1B at a $40B valuation — emmanuelvivier · 2026-09-05
2 near-duplicate retellings: rohanpaul_ai · ivan_bezdomny