OpenAI is in talks to raise a fresh round of funding at a valuation of $100 billion or more, according to Bloomberg News. The terms, valuation, and timing of the funding round have not been finalized and could change. OpenAI has also discussed raising funding for a new chip venture with Abu Dhabi-based G42.

OpenAI is set to complete a tender offer led by Thrive Capital in early January, allowing employees to sell shares at a valuation of $86 billion, while Microsoft commits to investing over $10 billion in OpenAI.

Microsoft has announced that it will take a non-voting, observer position on OpenAI’s board, following the ousting of CEO Sam Altman without any detailed cause. Altman was ousted on November 17 without any detailed cause, setting off alarm bells among investors and employees.

OpenAI, a company that has previously sold $300 million worth of shares at a $30 billion valuation, has not commented on the matter.