Apple has reportedly left negotiations to participate in an OpenAI funding round expected to raise about $6.5 billion. The tech giant recently fell out of the talks for the round, set to close next week where other firms, such as Microsoft and Nvidia, are also in talks to participate. Microsoft is expected to invest about $1 billion after having already poured $13 billion into the company.
Last month, it was first reported that Apple was in the talks, as part of OpenAI’s new fund-raising effort that could value the ChatGPT maker above $100 billion. The current valuation has now reportedly shot up to $150 billion.
The high valuation is a result of the AI arms race OpenAI sparked with its launch of ChatGPT in late 2022.
The launch of ChatGPT further spurred companies across industries to invest billions in the technology to stay ahead of the competition and capture market share.
As artificial intelligence continues to evolve, investments like these have become crucial for businesses looking to harness the technology's potential and lead the future of innovation.
Both Apple and OpenAI were unavailable for comment.
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