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Mira Murati, former OpenAI CTO, has steered her six-month-old venture, Thinking Machines Lab, to a $2 billion seed round at a $10 billion valuation—remarkably achieved without a disclosed product, revenue, or business plan. Led by Andreessen Horowitz and Conviction Partners, the round required investors to commit at least $50 million. Murati holds decisive control on the board, with weighted voting rights that eclipse all others combined. Positioned in stealth mode and supported by high-profile ex-OpenAI talent, the deal exemplifies a shift toward “pre-plan” funding, where reputation and founder vision outweigh traditional metrics.

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