A pair of scientists at Google’s artificial intelligence subsidiary DeepMind is in talks with investors to form an AI startup in Paris, Bloomberg News reported on Friday, citing people familiar with the conversations.

Scientists Laurent Sifre and Karl Tuyls, who have already given notice to leave DeepMind, have held discussions with investors about a financing round that could raise over 200 million euros ($217.84 million), the report said.

The company, known at the moment as Holistic, may be focused on building a new AI model, the report added.

Google and DeepMind did not immediately respond to Reuters’ requests for comment.

DeepMind was acquired by Alphabet-owned Google around a decade ago to fuel AI research and has now deployed its own offerings in the race to compete with generative AI chatbots like Microsoft-backed ChatGPT.

Paris-based Mistral AI, co-founded by a former DeepMind researcher, said in December it had raised 385 million euros ($419.34 million) in its second funding round in seven months.