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In a surprising move, Apple has pulled out of OpenAI’s $6.5 billion funding round, leaving Microsoft and Nvidia poised to take the lead in financing the AI frontrunner, sources reveal.
The Wall Street Journal has learned that Apple has decided not to fund OpenAI anymore. This is happening at the same time as OpenAI, which is aiming to finish a $6.5 billion funding round next week, with potential investments from Nvidia and Microsoft.
Apple’s Sudden Exit Shakes Up OpenAI Investment Round
Based on today's report, Apple is no longer in talks to participate in an OpenAI funding round expected to raise as much as $6.5 billion, an 11th-hour end to what would have been a rare investment by the iPhone maker in another major Silicon Valley company.
Microsoft and Nvidia Step Up in OpenAI Funding Push
Apple recently fell out of the talks to join the round, which is slated to close next week, according to a knowledgeable person. Last month, rumors began circulating that Apple was in talks to invest in OpenAI. However, the exact amount of investment that Apple may have made in the business was never disclosed.
Apple's Focus Shifts Away From AI Investments
Naturally, Microsoft has already invested heavily in OpenAI and now controls 49% of the company's revenues. Microsoft reportedly plans to increase its investment in OpenAI by $1 billion in this next round, according to today's article.
Jony Ive’s Role and the AI Hardware Pivot
More managerial and organizational changes have occurred at Apple since the news broke that the firm will not be investing in OpenAI. Jony Ive, the former head of Apple's design department, has reportedly confirmed his collaboration with OpenAI on an artificial intelligence hardware product, as per 9to5Mac.
Later this year, in iOS 18, Apple and OpenAI will combine forces to incorporate ChatGPT. Thanks to this collaboration, ChatGPT will be able to manage requests for world knowledge alongside Siri.
No Cash Exchange Between Apple and OpenAI
According to Bloomberg, neither Apple nor OpenAI is forking over any cash as part of this collaboration. Reportedly, Apple considers the exposure OpenAI is receiving from iOS 18 integration to be "of equal or greater value" than funding.
