AI Startup Thinking Machines Lab Raises $2 Billion at $10 Billion Valuation with No Product or Revenue

Thinking Machines Lab, a new artificial intelligence startup founded by former OpenAI CTO Mira Murati, has secured $2 billion in seed funding. The six-month-old company is now valued at $10 billion, making this one of the largest early-stage funding rounds in Silicon Valley history.

Despite having no product, revenue, or public roadmap, the company attracted backing from top-tier investors. The round was led by Andreessen Horowitz, with support from Conviction Partners and other firms that bet on the future of AI. The raise reflects a high level of conviction in Murati’s leadership and team, many of whom are former researchers and engineers from OpenAI, Meta (META), and Mistral.

Secrecy Is Key

Thinking Machines is currently operating in full stealth mode. Its team of roughly 30 people is focused on developing customizable, general-purpose AI systems. According to investor sources and early descriptions, the company aims to build agent-based AI that is more understandable and controllable than existing models. It also plans to support open-source safety research, a direction that appeals to both developers and policymakers who are closely watching the space.

The funding comes amid broader uncertainty in the tech market, with many startups struggling to secure capital at scale. However, investor interest in generative AI remains strong. Deals like this suggest that capital continues to flow to highly technical teams with track records, even in the absence of revenue or user traction.

Murati’s Role in OpenAI

Murati played a key role in launching ChatGPT and GPT-4 while at OpenAI. Her move to start Thinking Machines signals a shift toward independent AI labs led by high-profile operators. Several of these labs have chosen to stay in stealth while working on core infrastructure and new training approaches, rather than releasing public demos early.

The company has not shared a launch timeline or commercial plans. For now, it remains one of the most closely watched stealth ventures in the AI ecosystem. Its $2 billion seed round stands out not just for the amount raised, but for what it says about investor confidence in experienced technical founders.