According to the Wall Street Journal on Friday, Apple has dropped out of the discussion to enroll in OpenAI’s recent investment, which is expected to raise around $6.5 billion (roughly Rs. 54,464 crores).
The tech employer lately stepped far away from the talks, which can be expected to wrap up the subsequent week, a source acquainted with the situation stated.
Other businesses, like Microsoft and Nvidia, have additionally been in talks to participate. Microsoft expected to make investments of approximately $1 billion (around Rs. 8,379 crores) after investing $13 billion (around Rs. 1,08,928 crore) into OpenAI.
OpenAI did not remark, and Apple has not yet responded to requests for comment.
Last month, the Journal reported that Apple became concerned in talks to be a part of OpenAI’s fundraising efforts, which can raise the value of the ChatGPT maker to over $one hundred billion (approximately Rs. 8,37,996 crore).
This excessive valuation was pushed by the AI competition that OpenAI started with the release of ChatGPT in overdue 2022. The release has driven many organizations to invest heavily in the AI era to live competitively and grow their marketplace share.
