Thinking Machines Lab is closing in on a new $5 billion funding round at a $40 billion valuation
THE SO WHAT
A $5B round at a $40B valuation for a single AI lab shows capital is still willing to underwrite massive, concentrated bets on frontier model platforms. If you’re building on top of these labs, this kind of war chest lengthens their roadmap and makes platform dependency more durable, not less.
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