Amazon, Microsoft and Nvidia are in talks to invest up to $60 billion (£43bn) in artificial intelligence start-up OpenAI, The Information reported.

Amazon, which has not previously invested in OpenAI, is discussing investing dozens of billions in the start-up, and its investment could rise as high as $50bn, according to a Reuters report citing an unnamed person.

Nvidia, an existing investor, is discussing an investment of up to $30bn, while Microsoft is in talks to invest less than $10bn, according to the Information report.

The three companies are on the point of providing term sheets, or an investment commitment, the report said.

OpenAI is looking to raise up to $100bn in funding, valuing it at about $830bn, with Japan’s SoftBank in talks to contribute up to an additional $30bn, previous reports have said.

Amazon chief executive Andy Jassy is leading negotiations with OpenAI’s Sam Altman, Reuters’ report said.

Amazon is also an investor in Anthropic, one of the leading competitors to OpenAI, having invested about $8bn.

Anthropic is reportedly raising around $20bn at a valuation of $350bn.

Amazon’s investment could depend on separate negotiations, including a possible expansion of OpenAI’s cloud server rental deal with Amazon and a commercial deal to sell OpenAI products, such as ChatGPT enterprise subscriptions, to Amazon, The Information said.

OpenAI has made $1.5tn in infrastructure spending commitments, but last year reportedly lost $17bn in spite of exceeding an annualised revenue run rate of $20bn last year, due to the rising costs of training and running its systems.