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New York Post
Apple, Nvidia may invest in OpenAI fundraising that would value ChatGPT maker at over $100B: report
By Ariel Zilber,
8 hours ago
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 more than $100 billion.
Microsoft, a rival of Apple which already owns a 49% share of ChatGPT after investing some $13 billion since 2019, is also expected to participate, the Journal reported.
However, details on how much Apple or Microsoft will invest is yet to be learned, the report added.
Apple and OpenAI did not immediately respond to a request for comment.
Meanwhile, chip giant Nvidia is also in talks to join, Bloomberg reported Thursday.
Apple and OpenAI not immediately respond to requests for comment, while Thrive Capital, Nvidia and Microsoft declined comment.
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 in February after completing a deal where the company would sell existing shares in a so-called tender offer led by Thrive Capital.
Apple has tacitly acknowledged that it needs help catching up with companies like Microsoft and Google, which have emerged as the early leaders in AI.
It is rare for Apple to invest in tech startups. Instead, the company has focused on acquiring manufacturing partners in order to secure supply of components used to build its devices.
Apple is leaning on ChatGPT to make its often-bumbling virtual assistant Siri smarter and more helpful.
Apple Intelligence will boast an improved Siri voice assistant, text proofreading and creating custom emojis.
Siri’s optional gateway to ChatGPT will be free to all iPhone users and made available on other Apple products once the option is baked into the next generation of Apple’s operating systems.
ChatGPT subscribers are supposed to be able to easily sync their existing accounts when using the iPhone, and should get more advanced features than free users would.
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