1. Magic, an AI-powered coding startup, is seeking a valuation of $1.5 billion in its latest funding round, according to sources familiar with the matter. The company, founded in 2020, has developed an AI-powered platform that aims to revolutionize the software development process by automating various tasks, including code generation, debugging, and optimization.

2. The funding round is expected to attract significant interest from investors, as the demand for AI-powered tools in the software development industry continues to grow. Magic's technology has the potential to streamline the coding process, reduce development time, and improve the quality of software products, making it an attractive investment opportunity.

3. The success of this funding round could further solidify Magic's position as a leading player in the AI-powered coding space. The company's ability to secure a $1.5 billion valuation would be a testament to the market's confidence in its technology and its potential to disrupt the traditional software development landscape.