Apple Withdraws from OpenAI Funding as Microsoft and Nvidia Double Down
Apple Exits OpenAI Funding Round as Microsoft and Nvidia Stay Committed
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Apple has recently withdrawn from negotiations to participate in an OpenAI funding round expected to raise approximately $6.5 billion, according to the Wall Street Journal.
While Apple was initially reported as part of the discussions, it has now stepped back just a week before the round is set to conclude.
The funding effort is part of OpenAI’s plans to secure investments at a valuation potentially exceeding $100 billion. This highlights the surging interest in AI technologies.
Despite Apple’s withdrawal, other tech giants such as Microsoft and Nvidia remain engaged in talks. Microsoft is anticipated to contribute around $1 billion on top of the $13 billion it has already invested in OpenAI.
OpenAI’s hefty valuation and the significant investments it attracts reflect the growing importance of AI technology. This interest is propelled by the launch of ChatGPT in late 2022.
Companies across various industries continue to invest billions in the technology to stay competitive and capture market share. Microsoft’s and Nvidia’s decisions underscore AI’s immediate relevance and transformational potential.
For more detailed information, you can read the full article on the Jerusalem Post.
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