AI infrastructure firm Upscale AI is reportedly negotiating its third funding round just seven months after its debut, as detailed by Bloomberg. This new financing effort seeks to secure approximately $180 million to $200 million, which would place the company’s valuation at roughly $2 billion.

The company previously announced a $200 million Series A round in January and a $100 million seed round in September, coinciding with its initial launch. Its investor base includes Tiger Global Management, Xora Innovation, and Premji Invest.

Notably, Upscale AI has not yet launched a product. However, reports indicate the company is concentrating on developing custom chips and the necessary infrastructure to ensure they communicate efficiently. The firm is placing its bets on a full-stack solution and open standards, viewing them as the future of scalable AI infrastructure.

The rumored valuation and fundraising effort align with a common startup strategy in the current AI era, where rapid company growth and even faster-rising valuations are fueled by the relentless pursuit of the next major breakthrough.