OpenAI, the artificial intelligence company behind ChatGPT, is reportedly engaged in discussions for a $10 billion joint venture with private equity firms, according to a Bloomberg report.

The potential partnership represents a significant financing initiative for the AI company, which has become one of the most closely watched firms in the technology sector since the launch of its popular chatbot service.

Details about the structure of the proposed joint venture, the specific private equity firms involved, or the intended use of the funds were not disclosed in the initial report. The discussions appear to be in early stages, and it remains unclear whether an agreement will be reached.

OpenAI has previously raised substantial funding rounds as investor interest in artificial intelligence technologies has surged. The company was valued at approximately $86 billion in its most recent funding round earlier this year.

The potential joint venture comes as OpenAI continues to expand its operations and compete in the rapidly evolving AI market, where companies are seeking significant capital to develop and deploy advanced AI systems.