Apple, Nvidia in Talks to Join OpenAI Funding Round: Reports

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 above $100 billion (roughly Rs. 7,870 crore), according to media reports on Thursday.

The Wall Street Journal first reported on Apple's interest, citing sources, while Bloomberg News reported on Nvidia's potential 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 not immediately respond to Reuters requests for comment, while Thrive Capital, Nvidia and Microsoft declined comment.

OpenAI has become increasingly important to Apple's artificial intelligence strategy, with the iPhone maker bringing the AI firm's chatbot, ChatGPT, to Apple devices in June as part of "Apple Intelligence."

Apple was also reported to gain an observer role on OpenAI's board.

Microsoft, OpenAI's largest strategic investor with over $10 billion (roughly Rs. 787 crore) invested, is also expected to participate in the funding round, according to the WSJ report.

The exact investment amounts from Apple, Microsoft and Nvidia remain undisclosed.

OpenAI's high valuation is a result of the AI arms race it sparked with the launch of ChatGPT in late 2022, prompting companies across industries to invest billions in the technology to stay ahead of the competition and capture market share.

The Sam Altman-led firm was reportedly valued at $80 billion (roughly Rs. 6,296 crore) in February after completing a deal where the company would sell existing shares in a so-called tender offer led by Thrive Capital.

© Thomson Reuters 2024

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Apple, Nvidia in Talks to Join OpenAI Funding Round: Reports

Apple, Nvidia in Talks to Join OpenAI Funding Round: Reports

Apple, Nvidia in Talks to Join OpenAI Funding Round: Reports

Apple, Nvidia in Talks to Join OpenAI Funding Round: Reports

Apple, Nvidia in Talks to Join OpenAI Funding Round: Reports