Apple withdraws from OpenAI funding round
According to a Wall Street Journal report published on Friday, Apple has withdrawn from negotiations to participate in an OpenAI funding round expected to raise approximately $6.5 billion.According to a source familiar with the matter, the tech giant has recently withdrawn from discussions for the funding round, which is set to close next week.
Other companies, including Microsoft and Nvidia, are still in talks about participating, with Microsoft expected to invest around $1 billion after previously committing $13 billion to OpenAI.
Last month, the Journal reported that Apple was in talks as part of OpenAI's latest fundraising efforts, which could value the ChatGPT creator at more than $100 billion. This high valuation is due to the AI arms race sparked by the launch of ChatGPT in late 2022, which resulted in widespread investments in AI technology across multiple industries.
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