A16z said to lead funding for ex-OpenAI CTO Murati's AI firm

Andreessen Horowitz is reportedly negotiating to lead a funding round for Thinking Machines Lab, an AI startup founded by former OpenAI chief technology officer Mira Murati.

This funding round could value the company at US$10 billion, according to sources familiar with the discussions.

Thinking Machines Lab, launched in February 2025, aims to create safer and more reliable AI systems for various applications.

The company currently does not have any revenue or products but has a team of approximately 30 researchers and engineers, with two-thirds being former OpenAI employees.

Notable advisers include Bob McGrew, OpenAI’s former chief research officer, and Alec Radford, a lead researcher on OpenAI’s models.

Business Insider reported that the funding round could approach US$2 billion, with Sequoia Capital also in discussions to participate.

🔗 Source: Reuters

🧠 Food for thought

1️⃣ The “OpenAI mafia” represents a new power center in AI investment

Mira Murati’s potential $10 billion valuation for a pre-product company highlights how OpenAI alumni are commanding extraordinary valuations based on their reputations and teams.

This exodus mirrors former OpenAI chief scientist Ilya Sutskever, who also raised significant funding for Safe Superintelligence based on his reputation in the field1.

The trend extends beyond these two executives, with Business Insider documenting a group of former OpenAI employees who have collectively raised billions in funding for new ventures1.

This phenomenon is similar to earlier Silicon Valley “mafias” like PayPal’s, where alumni from influential companies leveraged their experience and networks to attract substantial investment.

What stands out is the speed of this cycle. While PayPal’s mafia developed over many years, OpenAI’s influence is fostering billion-dollar startups within months of executives’ departures.

2️⃣ AI funding defies traditional venture metrics amid talent wars

Venture capital’s approach to AI valuation has shifted from traditional metrics to a focus on team credentials and intellectual capital.