Apple (NASDAQ) has reportedly exited negotiations to join an investment round for OpenAI that aims to raise approximately $6.5 billion, according to a Friday report from the Wall Street Journal. The tech giant’s decision to step back comes just days before the funding round is set to close next week, as confirmed by sources familiar with the discussions.
While Apple has pulled out, other major companies, including Microsoft (NASDAQ) and Nvidia (NASDAQ), remain in talks to participate. Microsoft is expected to invest about $1 billion, adding to its substantial previous investment of $13 billion in OpenAI.
The Wall Street Journal initially reported last month that Apple was in discussions to invest in OpenAI, which is poised for a valuation exceeding $100 billion. This high valuation reflects the competitive landscape in the AI sector, ignited by OpenAI’s launch of ChatGPT in late 2022, leading various companies to pour billions into AI technology to maintain their competitive edge.
hii Aditi Sahu this side..
As an author and writer specializing in investment and finance , I am dedicated to delivering insightful articles and news stories that inform and engage the investment community . My focus is on providing timely and relevant content that covers market trends , innovative strategies , and key financial development . My goal is to equip investors with the knowledge and insights needed to make informed decisions and succeed in a dynamic financial environment.
