Apple Drops out of OpenAI financing, while Microsoft and NVIDIA in talks

TapTechNews on September 28, The Wall Street Journal released a blog post yesterday (September 27), reporting that Apple will no longer participate in this round of financing of OpenAI.

TapTechNews quoted the media report that OpenAI has currently started a new round of financing, planning to raise approximately 6.5 billion US dollars (TapTechNews note: currently about 45.498 billion Chinese yuan) of funds, and the related activities are estimated to close next week.

OpenAI is the company behind ChatGPT and is currently transforming from a non-profit organization to a for-profit company. This transformation has received support from many investors, including venture capital firm ThriveCapital, investment firm TigerGlobalManagement, and the state-owned enterprise MGX of the United Arab Emirates.

If OpenAI fails to complete the process of becoming a for-profit company within two years, the current round of investors will have the right to request a refund. The report also mentioned that although Apple has withdrawn from the financing negotiation, Microsoft and NVIDIA are still in discussions to participate in this round of financing.