OpenAI is holding early-stage discussions with investors about a potential new funding round.

According to a person familiar with the negotiations who was not authorized to discuss the details publicly, the company could raise roughly $30 billion, though that figure may change.

The person said the round is being driven by investor demand, and no term sheet has been finalized yet.

OpenAI completed a historic $122 billion funding round in March, reaching a valuation of $852 billion.

In recent weeks, investors have proposed that the company launch a new funding round.

The company is preparing for a possible large-scale IPO, which is widely expected to take place next year.

OpenAI confidentially submitted its prospectus to regulators in June.