Thinking Machines Lab

Annualized revenue run-rate >$100M from the Tinker fine-tuning API per TechCrunch (person with knowledge of finances), Sep 2026; The Information (Sep 3, 2026) says 'at least a few hundred million' annualized, self-reported and unaudited, so $100M is a floor. Last closed valuation $12B (Jul 2025 seed); in talks for $1B–6B at $40B+ pre-money (The Information, Sep 2026), not closed; Forge secondaries ~$13.5B (Aug 2026).