Mira Murati's Thinking Machine Labs Seeks $1B Funding at $9B Valuation

Mira Murati's Ambitious AI Venture

Mira Murati, former CTO of OpenAI, has launched a new startup called Thinking Machine Labs that is making waves in the AI industry. The company is reportedly seeking to raise $1 billion in funding at a staggering valuation of approximately $9 billion, according to sources familiar with the matter 1

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. This development underscores the intense investor interest in AI startups, particularly those with connections to OpenAI.

Thinking Machine Labs' Mission and Team

Thinking Machine Labs emerged from stealth mode last week, with Murati outlining the company's mission in a recent blog post. The startup aims to enhance accessibility in artificial intelligence by making "AI systems more widely understood, customizable and generally capable" 1

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. The company's website emphasizes its commitment to open-source development and creating "more flexible, adaptable, and personalized AI systems" 2

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Murati has assembled an impressive team of engineers and AI researchers from notable tech companies. Key hires include:

• John Schulman, co-lead of the ChatGPT project
• Jonathan Lachman, former head of special projects at OpenAI
• Barret Zoph, a co-creator of ChatGPT
• Alexander Kirillov, who worked closely with Murati on ChatGPT's voice mode 1

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In total, Thinking Machine Labs has recruited approximately 20 former OpenAI researchers, along with talent from other AI companies such as Character AI, Google DeepMind, Meta, and Mistral AI 1

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Industry Context and Trends

Murati's venture is part of a larger trend of former OpenAI executives launching their own AI startups. Notable examples include:

1. Ilya Sutskever's Safe Superintelligence Inc., which raised $1 billion shortly after its establishment
2. Anthropic, founded by the Amodei brothers, which has secured substantial funding, including $8 billion from Amazon 1

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The potential $9 billion valuation for Thinking Machine Labs, despite being in operation for less than a year, reflects a growing trend of early-stage AI startups achieving unicorn status rapidly. This phenomenon is particularly prevalent in the AI sector, where investor enthusiasm remains high 2

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Murati's Background and OpenAI Connection

Mira Murati's journey to founding Thinking Machine Labs is closely tied to her experiences at OpenAI. She served as CTO at OpenAI for six and a half years, contributing significantly to the development of ChatGPT and various AI research initiatives. During the tumultuous period following Sam Altman's dismissal in November 2023, Murati briefly served as interim CEO before returning to her CTO role 1

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Murati's departure from OpenAI in September 2023 was marked by a gracious farewell letter expressing gratitude towards Altman and a desire for personal exploration. This exit coincided with other significant departures from OpenAI, including Barret Zoph and Bob McGrew, the former chief research officer 1

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Funding Landscape for AI Startups

The potential $1 billion funding round for Thinking Machine Labs is indicative of the current funding climate for AI startups, especially those with OpenAI connections. Other notable funding activities in the sector include:

• Anthropic reportedly closing in on a $3.5 billion funding round, valuing the company at $61.5 billion
• Elon Musk's xAI in talks to raise $10 billion at a $75 billion valuation 2

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These substantial funding rounds highlight the continued investor confidence in the AI sector and the premium placed on startups with ties to established AI research institutions.