AI infrastructure company Upscale AI is reportedly in talks to nab its third funding round since launching just seven months ago, according to Bloomberg.

This latest round — which aims to raise around $180 million to $200 million — would value the company at about $2 billion. The company announced a $200 million Series A in January and a $100 million seed round in September, when it first launched. Investors in the company include Tiger Global Management, Xora Innovation, and Premji Invest.

Notably, Upscale AI has yet to release a product. However, it’s said to focus on building custom chips and on the infrastructure to enable them to communicate effectively. The company is betting on a full-stack solution and open standards as being the future of scalable AI infrastructure.

The rumored valuation and raise are part of the startup playbook in this age of AI, where companies grow fast and valuations grow faster, but the hope for the next big thing outpaces it all.