Mira Murati isn’t a natural creature of the conference stage. As the CTO of OpenAI, she was present but rarely the public face of the company. As CEO of her own company, Thinking Machines Lab, she has been even harder to find. So when she sat down with Bloomberg in San Francisco on Thursday — her first major media appearance in roughly 18 months — it was worth paying attention, even if she was careful not to say too much.

The timing makes sense. Thinking Machines has spent the better part of a year and a half operating largely in the background: raising capital, hiring researchers, and shipping one product, Tinker, an API for fine-tuning open-source AI models.

In the meantime, the companies competing for the same talent, customers, and headlines have only grown more omnipresent. OpenAI, where Murati spent six years as CTO, is constantly in the news cycle. Anthropic’s momentum is all that anyone can talk about right now. And xAI, Elon Musk’s AI venture, has been folded into SpaceX ahead of what is expected to be its massive public offering, generating its own gravitational pull on attention and investment. In that environment, staying heads down has diminishing returns; at some point, you have to make some noise just to remind the market you exist.

Murati used the Bloomberg appearance to do exactly that and not much more. She previewed what Thinking Machines is calling “interaction models,” which she described as a fundamentally different kind of AI interface. Rather than the turn-based, prompt-and-response dynamic that defines most AI products today, she told interviewer Emily Chang, the company’s models are designed to process continuous streams of audio, text, and video in 200-millisecond intervals. The idea is that they can pick up on the texture of human communication — the interruptions, the mid-thought corrections, even pauses to think — in something closer to real time. But Murati was careful to frame it as a first step, not a finished product, and she declined to put a specific release date on anything.

She also answered questions about the episode that first put her more squarely in the public eye: the chaotic week in November 2023 when OpenAI’s board fired Sam Altman and she became interim CEO. Inside OpenAI it came to be called “the blip.” Murati said she felt clear about her decisions in each moment — that protecting the mission and the team was the through-line that made the choices feel obvious even as the situation appeared to be falling apart from the outside. She said the company would have “imploded” if not for her involvement through that strange five-day stretch and its immediate aftermath. But she acknowledged that clarity of intent is not the same thing as clarity about consequences. In retrospect, she said, she would have pushed harder for more information, a better transition plan, and more transparency. What she did not say, at least not directly, is whether she thinks things turned out well.

Asked whether she still trusts her former boss, she sidestepped the question, steering the conversation toward a larger concern that she returned to several times: the concentration of consequential decisions in too few hands — not just at OpenAI but across the industry. Her worry, she said, is less about the character of any individual leader (though she acknowledged that matters) and more about the absence of structural checks. Good people make bad calls. Well-intentioned organizations drift. Too much attention has been paid to virtue and too little to governance, she suggested.

Chang also politely pressed her on the departures of several high-profile researchers from Thinking Machines in recent months , a subject Murati has largely avoided in public and that she downplayed on Thursday. First, she said, building a frontier AI lab from scratch compresses years of normal organizational volatility into months. She also acknowledged that compensation — the nine-figure packages that have become standard currency in the war for AI talent — captures people’s imaginations, but she suggested it isn’t usually the whole story. To some audience laughter, she said of her own competitive instincts, “When I wake up in the morning, I am not thinking about how to kill the competitor.”

Naturally, Chang asked about what comes next for AI broadly, including for the humans who AI companies once said would be empowered by AI but who’ve more recently grown scared by talk of mass job displacement, not to mention a future where AI is used to create chemical weapons.

Murati, who was born in Albania and speaks with a slight Eastern European accent, was measured in her response. She pushed back on the framing of inevitable dystopia or inevitable utopia, arguing that neither outcome is predetermined and that the period we’re in right now is the one that will determine which way things go. Still, she said — and not for the first time during the interview — that if humans take their hands off the wheel too soon, the future will look very different, and not better.