Magic AI, a startup using artificial intelligence to help write computer code, is aiming to raise $200 million in a new funding round.
This investment would value the company at $1.5 billion, a significant increase from its previous valuation of $500 million.
Despite not yet having a product on the market or generating revenue, Magic AI has attracted investors who see the enormous potential of AI-powered coding tools.
The company's technology promises to automate the process of building software applications, making it easier and faster for developers to work.
