The discussion is still in the early stages and the final numbers have not been finalized, the source said. Big Tech companies and investors such as SoftBank Group Corp are racing to forge partnerships with OpenAI, which is spending heavily on data centers, betting that closer ties with the artificial-intelligence startup would give them a competitive edge in the AI race.

OpenAI is looking to raise up to $100 billion in funding, valuing it at about $830 billion, Reuters reported on Tuesday. SoftBank Group is in talks to invest as much as an additional $30 billion in the startup. OpenAI, which signed a $10 billion computing deal with Nvidia challenger, Cerebras earlier this month, is laying the groundwork for an IPO that could value it at up to $1 trillion, Reuters has also reported.

–Reuters–