Apple has exited negotiations to participate in an OpenAI funding round expected to raise approximately $6.5 billion, according to a report from the Wall Street Journal on Friday.
The tech giant recently stepped away from discussions for the funding round, which is set to close next week, as cited by a source familiar with the matter.
Other companies, including Microsoft and Nvidia, are still in talks to participate, with Microsoft anticipated to invest around $1 billion after already committing $13 billion to OpenAI.
Last month, the Journal reported that Apple was in discussions as part of OpenAI’s latest fundraising efforts, which could potentially value the ChatGPT creator at over $100 billion. This high valuation stems from the AI arms race ignited by the launch of ChatGPT in late 2022, prompting widespread investments in AI technology across various industries.
