OpenAI is in talks for an investment round to raise nearly $40 billion that would value the AI startup at up to $340 billion, the Wall Street Journal reported on Thursday.

SoftBank Group (TYO:9984) is in talks to lead a funding round of up to $40 billion in OpenAI, valuing the ChatGPT maker at $300 billion, sources said. If finalized, this would mark a record-breaking private funding

SoftBank has already committed $15 billion to Project Stargate, a joint venture with OpenAI to build data centers and other AI infrastructure.