(Reuters) -OpenAI is preparing to release a new open-source language model to the public, The Information reported on Monday, citing a person with knowledge of the plan.

OpenAI's ChatGPT, known for producing prose or poetry on command, has gained widespread attention in Silicon Valley as investors see generative AI as the next big growth area for tech companies.

In January, Microsoft Corp announced a multi-billion dollar investment in OpenAI, deepening its ties with the startup and setting the stage for more competition with rival Alphabet Inc's Google.

Meta Platforms Inc is now rushing to join competitors Microsoft and Google in releasing generative AI products capable of creating human-like writing, art and other content.

OpenAI is unlikely to release a model that is competitive with GPT, the report said.

The company did not immediately respond to Reuters' request for a comment.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli)