Apple drops out of talks to join OpenAI investment round
Apple has left negotiations to participate in an OpenAI funding round expected to raise about $6.5 billion, The Wall Street Journal reports.
Tom Dotan and Berber Jin for The Wall Street Journal:
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.
Apple recently fell out of the talks to join the round, which is slated to close next week, according to a knowledgeable person.
Two other tech giants, Microsoft and Nvidia, have also been in talks to participate in the round. Microsoft is expected to invest around $1 billion, adding to the $13 billion it already has put into the company, according to people familiar with matter.
MacDailyNews Note: OpenAI is also attempting the complicated process of overhauling its corporate structure from a nonprofit into a for-profit company. Whether it succeeds in doing so remains in question.
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