Thinking Machines

Crusoe and Thinking Machines Lab announced a $65 million annual agreement on 2026-09-23 under which the lab will run production inference for its open models — its Inkling models plus GLM 5.2 and 5.3 — on a dedicated Crusoe Managed Inference deployment of NVIDIA HGX B200 systems. Crusoe said the customer takes Crusoe Managed Inference past $100 million in contracted ARR less than a year after launch, and the two are exploring batch inference for synthetic data generation. Coming six days after its $3.9B Series F at $30.9B, it is Crusoe's first named large inference contract and evidence of revenue beyond data-centre build-outs.

Source: Crusoe

Thinking Machines, the AI lab founded early last year by former OpenAI CTO Mira Murati, is in discussions to raise $1 billion at a valuation of at least $40 billion, The Information reported Thursday. Existing backer Accel is in talks to lead the fundraise, according to our source and The Information’s reporting.The new round, if it is completed, would value the company below the $50 billion valuation that Thinking Machines reportedly sought to secure late last year.Thinking Machines’ annual revenue run rate stands at over $100 million, according to a source with knowledge of the company’s financials. At that revenue figure, a $40 billion valuation reflects an extraordinarily high revenue multiple.

Source: TechCrunch