Thinking Machines Lab seeks $1b raise at $40b valuation - report

Investing.com -- Thinking Machines Lab is negotiating to secure at least $1 billion in funding at a pre-money valuation of roughly $40 billion, The Information reported on Thursday citing a person familiar with the matter.

The artificial intelligence company, founded by former OpenAI chief technology officer Mira Murati, is working with existing backer Accel to lead the funding round, two report said. Nvidia has also held discussions about joining the investment.

The proposed valuation represents a decrease from late last year, when Thinking Machines explored raising between $4 billion and $5 billion at a valuation exceeding $50 billion.

The fundraising talks follow the company's release of its first AI model, Inkling, in July. Thinking Machines Lab is less than two years old.

Earlier today, Nvidia announced a deal to acquire Hugging Face in $12.93 billion deal.

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