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Apple No Longer In Talks To Invest In OpenAI
Apple has withdrawn from discussions to invest in OpenAI's $6.5 billion funding round, though reasons for the decision remain unclear. The company still plans to proceed with integrating ChatGPT into Siri. MacRumors reports: The development comes just a month after WSJ reported that Apple was considering an investment in OpenAI as part of a fundraising effort that could value the AI company at over $100 billion. The high valuation reflects the intense competition in the artificial intelligence sector that OpenAI helped ignite with ChatGPT's launch in late 2022. While Apple has stepped away, other major tech companies remain involved. Microsoft, which has already invested $13 billion in OpenAI, is expected to contribute about $1 billion to this latest round. Nvidia is also reportedly in talks to participate. OpenAI's transition into a for-profit structure may have factored into Apple's decision. Last week, Reuters reported on OpenAI's plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board. "Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion after the restructuring as it also tries to remove the cap on returns for investors," reported Reuters.
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Apple has withdrawn from discussions to invest in OpenAI's $6.5 billion funding round, though reasons for the decision remain unclear. The company still plans to proceed with integrating ChatGPT into Siri. MacRumors reports: The development comes just a month after WSJ reported that Apple was considering an investment in OpenAI as part of a fundraising effort that could value the AI company at over $100 billion. The high valuation reflects the intense competition in the artificial intelligence sector that OpenAI helped ignite with ChatGPT's launch in late 2022. While Apple has stepped away, other major tech companies remain involved. Microsoft, which has already invested $13 billion in OpenAI, is expected to contribute about $1 billion to this latest round. Nvidia is also reportedly in talks to participate. OpenAI's transition into a for-profit structure may have factored into Apple's decision. Last week, Reuters reported on OpenAI's plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board. "Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion after the restructuring as it also tries to remove the cap on returns for investors," reported Reuters.
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