OpenAI has held early discussions with some investors about raising new funding at a valuation of about $750 billion, the Information reported on Wednesday.

The report said the artificial intelligence company could raise as much as $100 billion in the potential fundraising. It cited people familiar with the talks.

OpenAI is the developer of ChatGPT, one of the most widely used generative artificial intelligence products. The company is backed by Microsoft.

If completed, the funding talks would mark a sharp increase from OpenAI’s previously reported valuation of about $500 billion in October. That valuation followed a transaction in which current and former employees sold roughly $6.6 billion worth of shares.

The Information report said the discussions remain preliminary. There was no indication that terms have been finalized or that a deal is certain.

Separately, OpenAI has been preparing for a potential initial public offering. The company could be laying the groundwork for one of the largest IPOs on record.

That potential public offering could value OpenAI at as much as $1 trillion, according to earlier Reuters reporting. The company may file with securities regulators as soon as the second half of 2026.

OpenAI has expanded rapidly as demand for advanced artificial intelligence systems has grown. The company has entered into multibillion-dollar agreements this year with major technology firms, including Nvidia and Oracle.

Those deals are aimed at securing the computing resources needed to develop and run increasingly powerful AI models.

The possible fundraising highlights the scale of capital being discussed across the artificial intelligence sector. Companies are spending heavily on infrastructure as they compete to build systems designed to perform at or above human levels in certain tasks.

At the same time, some investors remain cautious. They are watching closely for signs that demand for AI products could slow or that large investments may take longer than expected to generate returns.

The reported talks come as scrutiny of valuations and spending levels in the sector continues to intensify.