Apple has decided not to participate in OpenAI’s $6.5 billion funding round, despite previous reports about OpenAI’s involvement.
However, tech giants Microsoft and NVIDIA are still considering participating in this round, which could push OpenAI’s valuation to over $100 billion, largely due to the success of its AI product ChatGPT.
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What’s the story?
According to the Wall Street Journal, Apple has withdrawn from talks to participate in a funding round for ChatGPT maker OpenAI. The tech giants were expected to work together toward the AI company’s goal of raising about $6.5 billion. However, recent updates suggest that Apple has pulled out of these talks ahead of the closing of the funding round next week.
Microsoft and NVIDIA continue to discuss
Despite Apple’s withdrawal, other tech giants such as Microsoft and NVIDIA are still in talks to participate in OpenAI’s funding round. The Wall Street Journal reports that Microsoft could spend about $1 billion. This was done after they had already invested $13 billion in the Sam Altman-led company.
OpenAI’s fundraising efforts could make it worth more than $100 billion
WSJ previously reported that Apple has joined a new funding initiative from OpenAI. The move could value the company above $100 billion. The increase in valuation is related to the AI race triggered by OpenAI’s launch of ChatGPT in late 2022.