Apple is no longer expected to participate in an OpenAI funding round that analysts believe could raise as much as $6.5 billion, according to a report from the WSJ.
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.
Thrive Capital is purportedly putting in around $1 billion and Tiger Global Management and United Arab Emirates state-backed company MGX are expected to join in as well. The site notes that funding talks aren't finished and it's possible that the participants and amounts could change.
Notably, OpenAI is now in the process of moving from a non-profit to a for-profit company. The change was reportedly encouraged by many of the investors in this round. If OpenAI does not complete the change within two years, investors in the current round will be able to request their money back.
Apple is set to introduce OpenAI ChatGPT features into its iOS 18 operating system with the release of iOS 18.2. The company is racing to get the software update out by December. You can learn more about the OpenAI and Apple Intelligence features coming to iOS 18 here:
● Apple Debuts 'Apple Intelligence' AI Features for iPhone, iPad, and Mac
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more Apple AI updates.
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.
Thrive Capital is purportedly putting in around $1 billion and Tiger Global Management and United Arab Emirates state-backed company MGX are expected to join in as well. The site notes that funding talks aren't finished and it's possible that the participants and amounts could change.
Notably, OpenAI is now in the process of moving from a non-profit to a for-profit company. The change was reportedly encouraged by many of the investors in this round. If OpenAI does not complete the change within two years, investors in the current round will be able to request their money back.
Apple is set to introduce OpenAI ChatGPT features into its iOS 18 operating system with the release of iOS 18.2. The company is racing to get the software update out by December. You can learn more about the OpenAI and Apple Intelligence features coming to iOS 18 here:
● Apple Debuts 'Apple Intelligence' AI Features for iPhone, iPad, and Mac
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more Apple AI updates.