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Apple and Nvidia are reportedly engaged in high-stakes discussions to back OpenAI, with both companies eyeing a significant role in the AI leader's next funding round, according to insider reports.
Apple and Nvidia Eye OpenAI Investment
On Thursday, media outlets reported that Apple and chip giant Nvidia were in discussions to invest in OpenAI as part of a new funding round. This investment may put the ChatGPT maker's valuation above $100 billion.
According to sources cited in the Wall Street Journal, Apple was the first to express interest, while Nvidia was rumored to be involved by Bloomberg News.
Thrive Capital's Billion-Dollar Investment
This announcement follows a report in the Journal the day before that said OpenAI will be leading a funding round with an investment of approximately $1 billion from venture capital company Thrive Capital.
Reuters reached out to Apple and OpenAI for comment, but neither company responded immediately. Thrive Capital, Nvidia, and Microsoft all chose not to comment.
OpenAI Integrated into Apple Devices
Because of the growing importance of OpenAI to Apple's AI plan, the iPhone maker integrated the chatbot ChatGPT from the AI business into Apple devices in June as part of "Apple Intelligence."
Moreover, Apple has reportedly become an observer on OpenAI's board of directors.
Microsoft to Participate in Funding
The Wall Street Journal states that OpenAI's biggest strategic investor, Microsoft, will reportedly take part in the investment round as well. Microsoft has invested over $10 billion in OpenAI.
No information has been released regarding the precise sums invested by Apple, Microsoft, and Nvidia.
After OpenAI's debut of ChatGPT in late 2022 started an AI arms race, corporations across industries invested billions in the technology to remain ahead of the competition and win market share. This led to OpenAI's high valuation.
Thrive Capital's so-called tender offer allegedly valued the Sam Altman-led firm at $80 billion in February after the company finalized a deal to sell existing shares.
