Apple Withdraws from OpenAI Investment Round Negotiations, Reports WSJ

Apple has withdrawn from negotiations to participate in an upcoming funding round for OpenAI, which is anticipated to raise around $6.5 billion, according to reports from the Wall Street Journal. The tech giant was recently noted to have exited discussions regarding the round, which is expected to close next week, as per sources familiar with the situation.

Other companies, including Microsoft and Nvidia, are still in talks to join this funding round. Microsoft is reportedly poised to invest approximately $1 billion, building on its previous investment of $13 billion in OpenAI.

Neither OpenAI nor Apple has issued comments regarding the developments.

Last month, it was reported that Apple was engaged in discussions as part of OpenAI’s new fundraising initiative, which could potentially elevate the valuation of the ChatGPT developer to over $100 billion. This high valuation stems from the competitive AI landscape that OpenAI has ignited since the launch of ChatGPT in late 2022, prompting significant investments from various sectors aiming to maintain their competitive edge and expand their market presence.