According to CoinMeta, Thinking Machines is nearing the completion of a $5 billion financing round, with a valuation reaching $40 billion. Accel is leading the investment in this round, which is expected to be completed within this week. The current $40 billion valuation is based on previous financings and represents more than a tripling from the $2 billion seed round valuation last year. There were discussions last year about raising funds at a $5 billion valuation, but those negotiations were abandoned. The company was founded by former OpenAI CTO Mira Murati; recently, due to competitors such as Meta and OpenAI offering higher salaries, the company has lost about one-third of its founding team members.