According to Nick Bilton and Evelyn M. Rusli of the New York Times, Apple is discussing a possible investment in the growing social network Twitter. The investment is said to be worth somewhere in the hundreds of millions of dollars. The potential investment would bring Twitter’s valuation to around $10 billion.

Apple has considered an investment in the hundreds of millions of dollars, one that could value Twitter at more than $10 billion, up from an $8.4 billion valuation last year, these people said. They declined to be named because the discussions were private.

Tim Cook and Twitter co-founder Jack Dorsey were spotted walking and talking at Sun Valley 2012. Another notable claim from the NYT report is that Twitter VP works with Apple full-time. 

The relationship with Apple is so prized at Twitter that the company assigned a vice president, Kevin Thau, to work with Apple full time, according to an Apple employee who asked not to be named.

The report provides the caveat that the investment may not actually happen. Notably, Twitter and Apple have partnered in software features for Apple’s operating systems. iOS and OS X both feature Twitter sharing for photos, statuses, and more. Apple has also teamed up with Facebook for similar integration. (Top image: GigaOM)

Update: The Wall Street Journal has chimed in: Apple and Twitter had these discussions over a year ago, no current discussions about an investment happening. The WSJ says Apple met with a number of social-media startups recently to talk product.

Update 2: Reuters is also saying no discussions are currently happening.

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