OpenAI, the innovative company behind the widely-used AI tool ChatGPT, is currently in discussions with several investors to raise billions in new funding, potentially boosting its valuation to over $100 billion, according to The Wall Street Journal. Thrive Capital is reportedly leading this round with an investment of approximately $1 billion, and Microsoft is also expected to contribute.

Over the past two years, OpenAI has emerged as the leading force in generative AI, revolutionizing the industry with the success of ChatGPT. The tool has driven major tech players like Google and Microsoft into a competitive race to dominate the AI market. Earlier this year, OpenAI’s CEO, Sam Altman, announced that ChatGPT had reached 100 million weekly users, solidifying the company’s influence.

This growing impact has significantly increased OpenAI’s value, with a recent deal allowing employees to sell stakes in the company at a valuation of $86 billion. This places OpenAI as the third-most valuable private company globally, just behind ByteDance and SpaceX.

The new funding round, expected to be the largest since Microsoft’s $10 billion investment in January 2023, underscores OpenAI’s ambition to achieve artificial general intelligence (AGI), a level where AI systems can perform any task as effectively as humans. The company has already reached level two of its AGI progress, “Reasoners,” capable of basic problem-solving akin to a human with a Ph.D.

However, OpenAI’s rapid growth and ambitious goals have drawn criticism. Some former employees and industry experts have expressed concerns over the potential risks associated with AGI. In May, OpenAI disbanded its “Superalignment” team, which focused on mitigating AI’s existential dangers, integrating this work into broader research efforts.