Universal Music (UMG.AS) and Warner Music (WMG.O) are nearing landmark artificial intelligence licensing deals, the Financial Times reported on Thursday, citing people familiar with the matter.

Universal and Warner could each strike deals with AI companies within weeks, the newspaper said.

Talks involved start-ups such as ElevenLabs, Stability AI, Suno, Udio and Klay Vision, the report said, adding that the music companies are also in talks with large technology groups, including Alphabet's (GOOGL.O) Google and Spotify (SPOT.N).

Reuters could not immediately confirm the report. Universal, Warner, Google and Spotify did not immediately respond to Reuters' request for comment.

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