Thinking Machines, an AI lab founded by former OpenAI CTO Mira Murati, is reportedly in talks for a $1 billion funding round at a $40 billion valuation, with existing investor Accel expected to lead. According to sources familiar with the matter, the company's annualized revenue run rate has already exceeded $100 million. If completed, this funding round would value the company below the $50 billion it sought last year.