Apple has left talks to participate in an OpenAI funding round expected to raise about $6.5 billion (roughly Rs. 54,464 crores), the Wall Street Journal said on Friday.
The tech giant recently pulled out of a round of talks set to close next week, the newspaper said, citing a person familiar with the matter.
Other companies like Microsoft and Nvidia are also in talks to participate, the report said, adding that Microsoft will have to invest around $1 billion (roughly Rs. 8,379 crores) after already putting in $13 billion (roughly Rs. 1). It was expected to invest Rs. Rs 08,928 crore in the company.
OpenAI declined to comment, while Apple did not immediately respond to a request for comment.
Last month, the Journal first reported that Apple was in talks with OpenAI as part of its effort to raise new funds that could value the ChatGPIT maker at more than $100 billion (roughly Rs. 8,37,996 crores).
The high valuation is the result of an AI arms race, OpenAI kicked off with the launch of ChatGPT in late 2022, prompting companies across industries to invest billions in the technology to stay ahead of the competition and gain market share Went.
© Thomson Reuters 2024
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