---
title: "Thinking Machines revenue and valuation"
description: "Thinking Machines' revenue is estimated at $76M–$124M. Valued at $12B after raising $7.01B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/thinking-machines.md
canonical_url: https://www.tryspecter.com/revenue-valuation/thinking-machines
publisher: Specter
last_updated: 2026-11-01
---

# Thinking Machines revenue and valuation

Specter estimates Thinking Machines' annual revenue at $76M to $124M and its valuation at $9.98B to $14.4B. The company was priced at $12B in November 2026.

Thinking Machines Lab is an AI research and product company.

- Estimated revenue: $76M to $124M (October 2026)
- Estimated valuation: $9.98B to $14.4B (October 2026)
- Total funding: $7.01B
- Founded: 2025
- Headquarters: San Francisco, United States
- Employees: 241
- Sector: AI lab
- Specter Rank: #55,951

## Thinking Machines revenue

Specter's model puts current revenue between $76M and $124M.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $97M | $76M | $124M |
| September 2026 | $100M | $83M | $120M |
| August 2026 | $100M | $79M | $127M |
| July 2026 | $100M | $73M | $137M |
| June 2026 | $100M | $70M | $142M |
| May 2026 | $84M | $25M | $143M |
| April 2026 | $97M | $22M | $172M |
| March 2026 | $88M | $25M | $150M |
| February 2026 | $89M | $26M | $152M |
| January 2026 | $88M | $26M | $151M |
| December 2025 | $100M | $38M | $162M |
| November 2025 | $100M | $52M | $193M |
| October 2025 | $86M | $34M | $138M |
| September 2025 | $71M | $23M | $118M |
| August 2025 | $76M | $25M | $126M |
| July 2025 | $64M | $21M | $107M |
| June 2025 | $55M | $14M | $97M |
| May 2025 | $12M | $4.7M | $19M |
| April 2025 | $19M | $7.8M | $30M |
| March 2025 | $16M | $7.5M | $24M |

## Thinking Machines valuation

Thinking Machines was valued at $12B at its Seed in November 2026. Specter's live estimate sits between $9.98B and $14.4B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $12B | $9.98B | $14.4B |
| September 2026 | $12B | $8.02B | $18B |
| August 2026 | $12B | $8.33B | $17.3B |
| July 2026 | $12B | $8.66B | $16.6B |
| June 2026 | $12B | $9B | $16B |
| May 2026 | $12B | $9.24B | $15.6B |
| April 2026 | $12B | $9.66B | $14.9B |
| March 2026 | $12B | $9.98B | $14.4B |
| February 2026 | $12B | $9.95B | $14.5B |
| January 2026 | $12B | $9.98B | $14.4B |
| December 2025 | $10B | $8.32B | $12B |
| November 2025 | $12B | $9.98B | $14.4B |
| October 2025 | $12B | $9.98B | $14.4B |
| September 2025 | $12B | $9.98B | $14.4B |
| August 2025 | $12B | $9.98B | $14.4B |
| July 2025 | $11B | $9.15B | $13.2B |
| June 2025 | $12B | $9.98B | $14.4B |
| May 2025 | $5.5B | $4.58B | $6.62B |
| April 2025 | $6.2B | $1.36B | $28.3B |
| March 2025 | $5.31B | $1.26B | $22.5B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $12B | November 2026 | Funding round |
| $12B | March 2026 | [tradingview.com](https://www.tradingview.com/news/invezz:136a51fe8094b:0-why-the-ai-funding-surge-is-distorting-the-ecosystem-for-female-founders/) |
| $12B | January 2026 | [news.crunchbase.com](https://news.crunchbase.com/venture/largest-funding-rounds-genai-defense-eoy-2025/) |
| $10B | December 2025 | [techfundingnews.com](https://techfundingnews.com/openai-anthropic-xai-ai-funding-trends-2025/) |
| $12B | November 2025 | [business-review.eu](https://business-review.eu/br-exclusive/br-analysis-ai-spearheads-startup-valuations-as-unicorn-pipeline-slows-291438) |
| $12B | October 2025 | [ndtvprofit.com](https://www.ndtvprofit.com/markets/openai-to-xai-10-loss-making-startups-that-are-now-nearing-1-trillion-valuation-thanks-to-ai-frenzy) |
| $12B | September 2025 | [breakit.se](https://www.breakit.se/artikel/44128/tagit-in-19-miljarder-i-riskkapital-nu-ska-mira-murati-tamja-oforutsagbara-ai-svar) |
| $12B | August 2025 | [businessinsider.de](https://www.businessinsider.de/gruenderszene/technologie/zuckerberg-bot-ihm-15-milliarden-fuer-jobwechsel-der-ki-experte-sagte-noe/) |
| $11B | July 2025 | [businessinsider.de](https://www.businessinsider.de/gruenderszene/business/ki-startup-von-ex-openai-cto-zahlt-bis-zu-500-000-dollar-gehalt/) |
| $12B | June 2025 | Funding round |
| $10B | May 2025 | [aol.com](https://www.aol.com/former-openai-cto-mira-muratis-210858312.html) |
| $10B | June 2024 | [techcrunch.com](https://www.techcrunch.com/latest/3020821/mira-muratis-thinking-machines-lab-closes-on-2b-at-10b-valuation/) |
| $12B | October 2023 | [techcrunch.com](https://www.techcrunch.com/latest/3028062/mira-muratis-thinking-machines-lab-is-worth-12b-in-seed-round/) |
| $10B | August 2023 | [thehindu.com](https://www.thehindu.com/sci-tech/technology/ex-openai-ctos-startup-thinking-machines-lab-raises-2-billion-at-10-billion-valuation/article69731325.ece) |
| $10B | June 2023 | [techcrunch.com](https://www.techcrunch.com/2023/06/07/mira-muratis-thinking-machines-lab-closes-on-2b-at-10b-valuation/) |

## Thinking Machines funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 3 Nov 2026 | Seed | $5B | $12B | Accel |
| 10 Mar 2026 | Corporate round | Undisclosed | Undisclosed | NVIDIA |
| 20 Jun 2025 | Seed | $2B | $12B | Andreessen Horowitz |
| 5 May 2025 | Grant | $9.98M | Undisclosed | Ministry of Economy, Culture and Innovation |

## Thinking Machines vs competitors

The AI development market is a battle between proprietary frontier models and open-source infrastructure.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Thinking Machines | $76M–$124M | $9.98B–$14.4B |
| Google DeepMind (deepmind.google) | $2.03B–$4.56B | No estimate |
| Nousresearch (nousresearch.com) | $32M–$49M | $1.25B–$1.8B |
| Poolside (poolside.ai) | $32M–$115M | $9.98B–$14.4B |
| Reflection (reflection.ai) | $23M–$320M | $7.18B–$15.8B |

## Questions

### What is Thinking Machines' revenue?

Specter estimates Thinking Machines' annual revenue at $76M to $124M as of October 2026.

### What is Thinking Machines' valuation?

Thinking Machines' latest post-money valuation is $12B, from a November 2026 Seed. Specter's live estimate is $9.98B to $14.4B.

### How much funding has Thinking Machines raised?

$7.01B across four rounds, from a $9.98M grant in May 2025 to a $5B Seed in November 2026.

### Who invested in Thinking Machines?

12 investors, including Accel, Andreessen Horowitz, Ministry of Economy, Culture and Innovation and NVIDIA.

### Who are Thinking Machines' competitors?

Google DeepMind, Nousresearch, Poolside and Reflection. Specter ranks 30 competitors for Thinking Machines.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Thinking Machines revenue and valuation." tryspecter.com/revenue-valuation/thinking-machines. Updated November 2026.