Apple drops out of talks to join OpenAI investment round, says WSJ By Reuters
(Reuters) – Apple (NASDAQ: ) has left talks to participate in a funding round for OpenAI that is expected to raise about $6.5 billion, the Wall Street Journal reported on Friday.
The technology giant has just come out of a round of negotiations that were supposed to close next week, the newspaper said, citing a person familiar with the matter.
Other firms, such as Microsoft (NASDAQ:) and Nvidia (NASDAQ:), were also in talks to participate, the report said, adding that Microsoft was expected to invest about $1 billion after it had already poured $13 billion into the company.
Last month, the Journal reported for the first time that Apple is in talks, as part of OpenAI's new effort to raise a fund that could value the maker of ChatGPT at more than $100 billion.
The high valuation is the result of the AI arms race that OpenAI sparked with its launch of ChatGPT in late 2022, prompting companies in all industries to invest billions in the technology to stay ahead of the competition and capture market share.
