Thinking Machines, which was founded by its Chief Executive Murati in February, had reportedly been holding talks with investors since April, and had originally been talking about a $10 billion valuation, but that number has since shot up, and it’s now valued at $12 billion, it said today.

Another major player, Anthropic, was founded in 2020 by former OpenAI vice president of research Dario Amodei. The safety-focused firm raised $3.5 billion in May, pushing its valuation to $61.5 billion.