OpenAI is close to finalizing a $40 billion funding round led by SoftBank Group Corp, Bloomberg News reported on Wednesday.

The funding round includes investors such as Magnetar Capital, Coatue Management, Founders Fund and Altimeter Capital Management, the report added.

Reuters in January reported that SoftBank Group was in talks to lead a funding round of up to $40 billion in the ChatGPT-maker at a valuation of $300 billion, including the new funds.