OpenAI, the startup behind the popular ChatGPT, is reportedly in discussions to raise billions of dollars in a new funding round that could see it valued at above $100 billion, the Wall Street Journal reported on Wednesday.

The funding round is expected to be led by venture capital firm Thrive Capital, which is poised to invest approximately $1 billion, the report said, citing people familiar with the matter.

Tech giant and OpenAI backer Microsoft is also expected to put in money, it added.

OpenAI, Microsoft and Thrive Capital did not immediately respond to Reuters' requests for comment.

ChatGPT, a chatbot that can generate human-like responses based on user prompts, has driven AI's popularity and fueled a meteoric rise in the valuation of the San Francisco-based firm.