AI Startup Magic in Talks to Raise Over $200m: Reuters

AI coding startup Magic is in talks to raise over $200 million in a funding round valuing it at $1.5 billion, Reuters reports, citing three unidentified people familiar with the matter.

• Jane Street is expected to participate in the funding round
• The startup has about 20 employees and was last valued at $500 million after the previous February fund raising, Reuters reports, citing PitchBook data
• Magic declined to comment to Reuters
• Jane Street did not respond to a Reuters request for comment

To contact the reporter on this story:
Kenneth Hughes in New York at khughes51@bloomberg.net

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