AI research lab building more understandable, customizable, and capable AI systems.
AI research lab founded in February 2025 by former OpenAI CTO Mira Murati. Closed a record-breaking $2B seed round at a $10B valuation in July 2025 led by Andreessen Horowitz, with valuation reportedly stepping up to ~$12B on early-stage extension. Launched its first product, Tinker — a fine-tuning API for open-weight models — later in 2025. In July 2026 it introduced Inkling, an open-weight model monetized through usage-based compute fees on Tinker; by September 2026 annual revenue run rate was reported above $100M, and Accel was reportedly in talks to lead a $1B round at a valuation of at least $40B.
AI📍 San Francisco, CAFounded 2025
Current Valuation
$12B
as of 2025-Q3
DECACORN
QL Price
$7.3B
-39% vs last round
QuantLogix's current estimate for Thinking Machines Lab, published 2026-09-22 — below the last disclosed round of $12B (2025-Q3).
Confidence
medium
Basis
comps led
What backs this price
Last disclosed round
$12B
2025-Q3
weight 0.51
Public-company comparables
$1.4B
2026-09
weight 0.4
How this price has held up
No round has priced for Thinking Machines Lab since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-09-22 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Thinking Machines Lab, 2026-09-22 (187dcee74780cbf3).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Thinking Machines Lab going public?
No. Thinking Machines Lab is private and has not filed to go public. There is no S-1 on file.
What is Thinking Machines Lab's valuation in 2026?
Thinking Machines Lab is valued at $12B as of 2025-Q3, set by its Seed ($2.0B, Jul 2025). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Thinking Machines Lab filed an S-1?
No public S-1 is on file for Thinking Machines Lab.
Who are Thinking Machines Lab's investors?
Thinking Machines Lab's investors include Andreessen Horowitz, Nvidia, Accel, ServiceNow, Cisco, AMD and 3 more.
How much has Thinking Machines Lab raised?
Thinking Machines Lab has raised $2.0B in total, most recently a Seed of $2.0B in Jul 2025.
Is Thinking Machines Lab publicly traded — can you buy Thinking Machines Lab stock?
No. Thinking Machines Lab is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Thinking Machines Lab on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Mira Murati
Founded
2025
HQ
San Francisco, CA
Employees
~50
Total Raised
$2.0B
Est. Revenue
$100M (2026-09)
Growth
Annual revenue run rate reported above $100M (Sep 2026)
Attributed to Hugging Face organization "Thinking Machines Lab" as of 2026-09-18. Open-weights footprint only — closed-model usage is not publicly measurable. Verify on Hugging Face ↗
Talent Signal
Hiring trend
▲ Hiring uptrend
+11% vs 2026-08
Open roles
39
via ashby
Product-build share
82%
engineering, research, product, design
Trajectory
expanding
heavy product build — 82% of open roles are product-building functions (engineering/research/product) — 15 of 39 open roles are research.
No tracked executive churn; open roles trending up.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Research, General AgentsSite Reliability Engineer, Post TrainingNetwork Engineer, SupercomputingReliability Engineer, Supercomputing Software Engineer, Systems GeneralistSoftware Engineer, Developer Productivity, AI Tools
Counted from Thinking Machines Lab's live job board as of 2026-09-15; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Inkling (open-weight model, usage-based fine-tuning fees via Tinker)
Competitors
OpenAI · Anthropic · Safe Superintelligence · Mistral AI
AIFoundation ModelsMira Murati
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q3. Refreshed quarterly.