Apple left negotiations to participate in OpenAI’s funding round, which is expected to raise around $6.5 billion, the Wall Street Journal reported on Friday.
The tech giant recently withdrew from negotiations for the funding round, which is expected to end next week, the newspaper said, citing a person familiar with the matter.
Other companies, such as Microsoft and Nvidia, are also in talks to participate, according to the report, which adds that Microsoft is expected to invest around $1 billion, having already pumped $13 billion into the company.
Last month, the Journal first reported that Apple was in talks, part of OpenAI’s new fundraising that could value the maker of ChatGPT at more than $100 billion.
This high valuation is the result of the AI arms race that OpenAI ignited with the launch of ChatGPT in late 2022, spurring companies across industries to invest billions in the technology to stay lead the competition and capture market share.
