Apple and chip giant Nvidia are reportedly in talks to invest in OpenAI as part of a new fundraising round that could value the ChatGPT maker at over $100 billion.
Thrive Capital, The venture firm founded by real estate heir Joshua Kushneris leading the latest fundraising round, which is expected to total several billion dollars, According to the Wall Street Journal.
Apple rival Microsoft, which already owns 49% of ChatGPT after investing nearly $13 billion since 2019, is also expected to participate, the Journal reported.
However, the details of how much Apple or Microsoft will invest are not yet known, the report said.
Apple and OpenAI did not immediately respond to requests for comment.
Meanwhile, chip giant Nvidia is also in talks to join in. Bloomberg reported Thursday.
Apple and OpenAI did not immediately respond to requests for comment, while Thrive Capital, Nvidia and Microsoft declined to comment.
OpenAI’s high valuation is the result of the AI arms race that began with the launch of ChatGPT in late 2022, which prompted companies across industries to invest billions in the technology to stay ahead of the competition and gain market share.
The firm led by Sam Altman is reportedly worth $80 billion That's after completing a deal in February in which the company would sell existing shares in a so-called tender offer led by Thrive Capital.
Apple has tacitly acknowledged that it needs help to catch up with companies like Microsoft and Google, which have emerged as leaders in the field of AI.
Both Google and Samsung have already released smartphone models touting AI features as their main highlight, while Apple has been consistently touting AI features as its main highlight. Being stuck in a period of declining sales for an unusually long period of time.
It is rare for Apple to invest in tech startups. Instead, the company has focused on acquiring manufacturing partners to secure the supply of components used in the creation of its devices.
But in June, Apple said OpenAI would be its first official partner for Apple Intelligence. The iPhone maker's artificial intelligence platform that will be It will be used across all the company's devices and operating systems. The latest models will arrive next month.
Apple is relying on ChatGPT to make its often clunky virtual assistant, Siri, smarter and more useful.
Apple Intelligence will feature improved Siri voice assistant, text proofreading, and creation of custom emojis.
Siri's alternative gateway to ChatGPT will be free for all iPhone users and will be made available on other Apple products when the option is included in Apple's next-generation operating system.
ChatGPT customers should be able to easily sync their existing accounts when using an iPhone, and they should get more advanced features than free users.
with post wire
