Miles Wang, an OpenAI researcher whose work involves using artificial intelligence to speed up scientific and biological discovery, is departing the ChatGPT creator to launch a new startup focused on developing AI models for drug discovery, according to four individuals familiar with his plans. Several other OpenAI researchers are expected to join the new venture. Wang is currently in discussions to raise approximately $200 million at a $2 billion valuation, two of the sources said. Lightspeed is in talks to lead the funding round, according to the people. However, negotiations are ongoing, the deal may not be finalized, and details could still shift. Wang disputed the story's funding figures and description of the company but did not provide the correct numbers or specifics. Lightspeed did not respond to a request for comment. The funding talks highlight investor enthusiasm for applying AI to achieve breakthroughs in life sciences. Chai Discovery, a two-year-old startup that builds AI models to predict molecular interactions for identifying new drugs, announced on Tuesday that it raised $400 million at a $3.8 billion valuation. (Co-founder Josh Meier also previously worked as a researcher at OpenAI.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, raised a $2.1 billion Series B in May. Finding new uses for FDA-approved drugs can lead to significantly faster time to revenue than developing new drugs from scratch, since these medicines have already been tested for safety. Wang joined OpenAI in 2024 after dropping out of Harvard, where he was pursuing a bachelor's degree in computer science. (In recent years, investors have once again become comfortable betting on young founders who haven't completed college.) At OpenAI, he co-authored research papers, including work evaluating how AI models can automate and accelerate scientific discovery.