FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Magic, a U.S. startup developing artificial-intelligence models to write software, is in talks to raise over $200 million in a funding round valuing it at $1.5 billion, just several months after its last capital raise, three sources told Reuters.
Investors including Jane Street are expected to participate in the round, which could triple Magic's valuation from its last round, despite earning no revenue and having no product for sale, according to sources who requested anonymity to discuss private matters.
