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NewsEarnings · NVDA

Accel reportedly in talks to lead $1 billion Thinking Machines round at $40 billion valuation

A reported $1 billion funding round for Thinking Machines, the artificial intelligence startup, would set a $40 billion headline valuation, with Accel said to be in discussions to lead the raise. The company's annual revenue run rate has cleared $100 million, the one hard operational figure attached to the reported terms.

By Renata OstrowskiNewsroomSeptember 4, 20262 min readNVDA ·GOOGL ·SNOW
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Key takeaways

  • Thinking Machines is reportedly raising $1 billion at a $40 billion headline valuation, with Accel said to be in talks to lead the round.
  • The startup's annual revenue run rate has cleared $100 million, the only hard operational figure attached to the reported terms.
  • Neither Accel's participation nor the round's final size has been formally confirmed, leaving the deal at the talks stage.
  • How quickly Thinking Machines reached $100 million and its underlying margins remain unreported, details investors will need before validating the valuation.
  • A formal announcement such as a press release or term sheet locking in round size, lead investor, and valuation would confirm the deal has closed.

A reported $1 billion funding round for Thinking Machines, the artificial intelligence startup, would set a $40 billion headline valuation, with Accel said to be in discussions to lead the raise. The company's annual revenue run rate has cleared $100 million, the one hard operational figure attached to the reported terms.

The distance between a $100 million-plus run rate and a $40 billion headline is the number this deal will have to carry. Neither Accel's participation nor the round's final size has been formally confirmed, so the story sits in the talks stage. In a rate environment that has repriced growth multiples across late-stage venture, a round at this scale will attract more rigorous scrutiny than the headline alone suggests.

What has been reported stops at the top-line run rate. How fast Thinking Machines reached $100 million and what margins sit beneath it are the details investors will need before they can move from a reported valuation to a defensible one. Consensus in high-profile AI rounds has a history of outrunning those numbers.

The confirmable milestone is a formal announcement that moves this deal from reported to closed. Watch for a press release or term sheet that locks in the round size, the lead investor, and the final valuation figure.

Related reading

About this story

Filed by the newsroom of MarketPR on September 4, 2026. Source: techcrunch.com. Indicative figures are not investment advice.

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Frequently asked

Who is reportedly leading Thinking Machines' funding round?

Accel is said to be in discussions to lead the reported $1 billion raise, though its participation has not been formally confirmed.

What valuation is the round set at?

The reported round would set a $40 billion headline valuation for Thinking Machines.

What is Thinking Machines' revenue?

Its annual revenue run rate has cleared $100 million, the one hard operational figure attached to the reported terms.

Has the deal been finalized?

No; neither Accel's involvement nor the round's final size has been formally confirmed, so the story remains at the talks stage.

What would confirm the deal is closed?

A formal announcement, such as a press release or term sheet that locks in the round size, lead investor, and final valuation figure.