Apple reportedly in talks to invest in OpenAI
- Apple is in talks to invest in OpenAI, according to a new report
- Nvidia are also said to be interested in investing
- Part of a fundraising round that would value the company at $100bn+
Published on Sep 02, 2024 at 11:20 AM (UTC+4)
by Claire Reid
Last updated on Sep 03, 2024 at 4:08 PM (UTC+4)
Edited by
Tom Wood
Apple is in talks to invest in ChatGPT’s parent company OpenAI, according to a new report.
In February of this year, OpenAI was valued at $80 billion, tripling its valuation in just 10 months.
This made OpenAI one of the world’s most valuable tech start-ups alongside SpaceX and ByteDance.
If the new reports are true, OpenAI’s latest fundraising round would push this valuation to $100 billion.
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Apple recently partnered with OpenAI
Back in June this year, Apple announced its partnership with ChatGPT with the AI tech set land on iOS, iPadOS, and macOS ‘later this year’.
“We’re excited to partner with Apple to bring ChatGPT to their users in a new way,” said OpenAI CEO Sam Altman back in June.
“Apple shares our commitment to safety and innovation, and this partnership aligns with OpenAI’s mission to make advanced AI accessible to everyone. Together with Apple, we’re making it easier for people to benefit from what AI can offer.”
So perhaps it shouldn’t have come as too much of a surprise when The Wall Street Journal reported last week that Apple was ‘in talks’ to invest in the startup.
The publication went on to say that venture capitalist firm Thrive Capital would be leading the round – the same firm that led the last fundraising round – and that was expected to ‘total several billion dollars’.
Other tech giants are also said to be interested
Microsoft, which currently owns a 49 percent share of OpenAI and is reportedly gearing up to build a $100 billion supercomputer, is ‘also expected to participate’ according to the WSJ.
The report did not make clear how much any of the companies are likely to invest.
The day after the WSJ released its report, Bloomberg published its own claiming that chip giant Nvidia is also in talks to invest in OpenAI.
According to the publication, OpenAI’s Chief Financial Officer Sarah Friar sent a memo to employees stating the company was seeking fresh capital.
Although the memo didn’t name any specific potential investors, Bloomberg says Friar told staff the money raised would be used to ‘acquire more computing power and fund other operating expenses’ as the AI industry continues to boom.
Looks like the next few weeks will be interesting to keep an eye on.
Claire Reid is a journalist who hails from the UK but is now living in New Zealand. She began her career after graduating with a degree in Journalism from Liverpool John Moore’s University and has more than a decade of experience, writing for both local newspapers and national news sites. Across her career she's covered a wide variety of topics, including celebrity, cryptocurrency, politics, true crime and just about everything in between.
