Apple, Nvidia in talks to join OpenAI funding round: Reports
According to media reports, Apple and chip giant Nvidia are in talks to invest in OpenAI as part of a new funding round that could value the ChatGPT maker at over $100 billion (approximately Rs 7,870 crore).
The Wall Street Journal first reported Apple’s interest, citing sources, while Bloomberg News reported on Nvidia’s possible involvement.
The news comes a day after the Journal reported that venture capital firm Thrive Capital would invest around $1 billion (roughly Rs 78.70 crore) in OpenAI, leading the funding round.
Apple and OpenAI did not immediately respond to Reuters requests for comment, while Thrive Capital, Nvidia and Microsoft declined to comment.
OpenAI has become increasingly important to Apple’s artificial intelligence strategy. In June, for example, the iPhone maker introduced the AI company’s chatbot, ChatGPT, to Apple devices as part of “Apple Intelligence.”
It was also reported that Apple would take an observer role on OpenAI’s board of directors.
According to the WSJ report, Microsoft, OpenAI’s largest strategic investor with an investment of over $10 billion (approximately Rs 787 crore), is also expected to participate in the funding round.
The exact investment amounts of Apple, Microsoft and Nvidia remain unknown.
OpenAI’s high valuation is a result of the AI arms race the company sparked with the launch of ChatGPT in late 2022, which saw companies across industries invest billions in the technology to stay ahead of the competition and capture market share.
The Sam Altman-led company was reportedly valued at $80 billion (approximately Rs 6,296 crore) in February after it struck a deal that would see the company sell existing shares in a so-called public offering led by Thrive Capital.
© Thomson Reuters 2024
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
