Mira Murati's Thinking Machines Lab raises $2B despite having no product yet
The former OpenAI CTO's startup is already valued at $12 billion...
Mira Murati, former CTO of OpenAI, has raised approximately $2 billion for her new startup Thinking Machines Lab at a valuation of $12 billion. The round was led by Andreessen Horowitz and included major tech investors such as Nvidia, Accel, ServiceNow, Cisco, AMD, and Jane Street. The company was founded in February 2025 and currently has no revenue or products; its first offering—expected within months—will include a significant open-source component aimed at researchers and startups building custom AI models. Nearly two-thirds of Thinking Machines' initial team came from OpenAI, highlighting the ongoing talent migration from the ChatGPT maker.
Murati left OpenAI abruptly last September, joining a growing list of former executives launching their own AI ventures. Notable peers include Dario Amodei's Anthropic and Ilya Sutskever's Safe Superintelligence, which have also raised billions and attracted ex-OpenAI talent. This fundraising success underscores investor enthusiasm for AI startups despite questions about tech spending. According to PitchBook, U.S. startup funding surged nearly 76% to $162.8 billion in the first half of 2025, with AI accounting for 64.1% of deal value. Thinking Machines aims to build safer, more reliable AI systems applicable to a broader range of use cases than current offerings.
- Raised $2B at a $12B valuation from Andreessen Horowitz, Nvidia, Accel, ServiceNow, Cisco, AMD, and Jane Street
- No product or revenue yet; first product with open-source component expected in months
- Nearly 2/3 of the team are former OpenAI employees, founded after Murati's abrupt exit
Why It Matters
Murati's massive raise with no product signals investor appetite for top AI talent over proven traction.