OpenAI was valued at $157 billion in its last funding round, cementing its status as one of the most valuable private companies in the world. SoftBank Group is in talks to lead a funding round of up to $40 billion in OpenAI at a valuation of $300 billion, including the new funds, Reuters reported in January.

Elon Musk and a group of investors have made a $97.4 billion bid to acquire the nonprofit that controls OpenAI, complicating the company’s efforts to raise $40 billion in new funding. The offer, backed by Musk’s AI company xAI,

Musk’s bid could ratchet up longstanding tensions with OpenAI CEO Sam Altman over the future of the startup at the heart of a boom in generative AI technology