This potential raise follows xAI’s May financing round, which valued the company at USD 24 billion and brought in USD 6 billion in capital
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Swiggy's IPO is expected to be the second-largest stock offering in India this year, following Hyundai India's debut earlier this week
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The company is reportedly looking to secure approximately USD 500 million in this new round of funding, as it seeks to expand its capabilities and market presence
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This would be a dramatic jump from the company’s earlier valuation of USD 86 billion, positioning OpenAI as one of the most highly valued startups in the artificial intelligence space
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Venture capital firm Thrive Capital is expected to spearhead this significant funding effort
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As per Reuters, Swiggy is preparing for one of India's largest IPOs this year, targeting a valuation of around USD 15 billion
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