Mira Murati's AI startup is raising $5 billion at a $40 billion valuation
The reported round would roughly triple the value of Thinking Machines Lab, with Nvidia in talks to invest about half.
Wednesday, November 11, 2026
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The reported round would roughly triple the value of Thinking Machines Lab, with Nvidia in talks to invest about half.
The September 2026 prospectus showed $4.6 billion in 2025 revenue, about $8 billion in operating losses and $518 billion in computing commitments.
The smart ring maker's September 2026 filing showed revenue up 74% and five million paying members.
The August 2026 agreement paid an AI coding startup for its technology without buying the company.
The May 2026 round made it the most valuable AI company, ahead of OpenAI, according to AI Weekly.
The April 2026 deal put a rival's satellite network underneath one of Apple's safety features.
The January 2026 deal ended Goldman's run as Apple's consumer banking partner, with a handover expected to take about two years.
The December 2025 deal was a bet that moving data with light will matter as much as the chips that process it.
Intercontinental Exchange's October 2025 investment valued the prediction market at about $8 billion and treated its prices as data worth selling.
In August 2025 one of the largest AI spenders chose to rent a small company's models instead of relying only on its own.
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