A United Arab Emirates state-backed company is in talks to invest in OpenAI as part of a multibillion-dollar fundraising round for the startup behind ChatGPT. MGX, which the U.A.E. created earlier this year to invest in artificial intelligence projects,

AI heavyweight OpenAI is in talks to raise funds at a valuation of $150 billion, Bloomberg News reported on Wednesday, a move that would fortify its status as one of the biggest startups in the world.

OpenAI is in talks to raise about $6.5 billion as part of a deal that would value the company in the range of $150 billion, a nearly $70 billion increase from its valuation nine months ago, according to five people with knowledge of the conversations.