It was anticipated that OpenAI would raise $6.5 billion in funding, but Apple has pulled out of discussions to take part. This concludes what would have been an unusual Apple investment in a different well-known Silicon Valley startup.
As the investment round came to an end, with a closing date set for next week, the Wall Street Journal reported that Apple withdrew from negotiations. Apple and OpenAI have refrained from commenting on the matter, and it is unclear why the business made its leave.
Other major tech companies have expressed interest in the fundraising round. Microsoft intends to donate an additional $1 billion to OpenAI, having previously invested $13 billion in the technology. It is anticipated that Nvidia will also be in talks to join this round, raising OpenAI’s worth to above $100 billion.
It was first reported last month that Apple was interested in OpenAI, as companies from all sectors try to get a presence in the AI space. Companies have been investing extensively in artificial intelligence due to the quick rise of OpenAI, especially with the launch of ChatGPT in late 2022, out of concern that they may lose their competitive edge.
However, the purpose of the investment is still to support OpenAI’s goal-achievement in the expanding AI market, even without Apple’s involvement, BrandSpur digital news platform reports.
