Apple no longer interested in joining OpenAI's $6.5B funding round
What's the story
Apple has pulled out of negotiations to join a funding round for ChatGPT maker OpenAI, as per the Wall Street Journal. The tech giant was expected to pitch in toward the AI firm's goal of raising around $6.5 billion. However, recent updates suggest that Apple has exited these talks ahead of the funding round's conclusion next week.
Ongoing negotiations
Microsoft and NVIDIA remain in discussions
Even though Apple has pulled out, other tech bigwigs such as Microsoft and NVIDIA are still in talks about joining the funding round for OpenAI. The Wall Street Journal says that Microsoft might chip in around $1 billion. This comes after they had already invested $13 billion into the Sam Altman-led firm.
Valuation surge
OpenAI's fundraising effort could value it over $100 billion
The WSJ had earlier reported that Apple has joined a new fundraising initiative by OpenAI. This move could possibly value the company at over $100 billion. The rise in valuation is linked to the AI race sparked by OpenAI's launch of ChatGPT in late 2022.