Apple Inc. is in discussions to invest in OpenAI, the force behind ChatGPT and a key driver in generative AI, in accordance with a report by the Wall Street Journal. This technology giant, popular for creating iPhones, is reportedly taking part in the latest funding round of OpenAI, looking to raise capital to back new technologies.
It is reported that OpenAI wants to reach the valuation of $100 billion in this funding round, according to Thrive Capital’s leadership, with a huge one billion dollars. Another giant, Microsoft, which is also the biggest investor in OpenAI, is also reportedly participating in the current funding round, while still keeping a fat chunk in the profit shares in the startup.
The would-be investment by Apple comes when the company is getting ready to launch new iPhones on September 9. The new gadget is expected to have optimized AI features, among others. In June, Apple said the technology of OpenAI would be made available as an option in its high-end iPhones’ software, along with AI tools from other companies.
While Apple does depend on its AI, it can always outsource more complicated tasks to the systems of OpenAI, should the customers decide to do so. If the investment goes through, this would be one huge leap for Apple into the AI space, considering how OpenAI has been growing into one of the most valuable tech companies in the world.
