Sept 27 (Askume) – Apple (AAPL.O) has ended talks to participate in an OpenAI financing round expected to raise about $6.5 billion, the Wall Street Journal reported on Friday .
The tech giant recently pulled out of a round of talks that was set to end next week, the paper said, citing a person familiar with the matter.
Other companies including Microsoft (MSFT.O) and Nvidia (NVDA.O) are also in talks to participate, the report said . Microsoft is expected to invest another US$1 billion after already investing US$13 billion in the company, the report also said.
OpenAI declined to comment, and Apple did not immediately respond to a request for comment.
Last month, The Wall Street Journal first reported that Apple was in talks with OpenAI as part of a new financing package that could value the ChatGPTS maker at over $100 billion.
The high valuation is the result of the artificial intelligence arms race started by OpenAI following the launch of ChatGPT in late 2022, which has driven companies across industries to invest billions in the technology to maintain a competitive advantage and gain market share.
