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Apple reportedly backs out of OpenAI funding round
In a short-lived will-they-won't-they love story to rival the likes of Heathcliff and Catherine, Apple is reportedly no longer in talks with ChatGPT creator OpenAI for investing in its latest fundraising round.
The Washington Postreported on Friday that a "knowledgeable person" reported that Apple fell out of talks to join this round. It's a surprise because the news came at such a late hour — the talks are scheduled to wrap up this upcoming week — but shouldn't shock anyone too intensely. Apple rarely invests in another Silicon Valley company, and is known for being pretty conservative in the world of direct investments and acquisitions in comparison to other tech giants.
SEE ALSO: Sam Altman steps down as head of OpenAI's safety groupMicrosoft and Nvidia are still holding strong in their hopes to invest in OpenAI. According to the Washington Post, Microsoft is expected to invest $1 billion in addition to the $13 billion its already invested into OpenAI, which has helped Microsoft gain access to OpenAI's Large Language Models and boost its own AI productivity tools. Thrive Capital, a venture-capital firm, is expected to put in around $1 billion and Tiger Global Management and MGX are also in talks. Of course, it isn't over until it's over, and we could still see new players over the next few days.
And, lest we forget, this doesn't mean Apple and OpenAI are no longer thick as thieves. Apple announced its partnership with OpenAI at its WWDC event in June, which will integrate ChatGPT features into the iOS 18 update.
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As Apple Senior VP Craig Federighi said in the announcement, it's "AI for the rest of us."
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