Apple backs out of backing OpenAI, report claims

A few weeks back, it was reported that Apple was exploring investing in OpenAI, the company that makes ChatGPT, the GPT model, and other popular generative AI products. Now, a new report from The Wall Street Journal claims that Apple has abandoned those plans.

The article simply says Apple "fell out of the talks to join the round." The round is expected to close in a week or so and may raise as much as $6.5 billion for the growing Silicon Valley company. Had Apple gone through with the move, it would have been a rare event—though not completely unprecedented—for Apple to invest in another company that size.

OpenAI is still expected to raise the funds it seeks from other sources. The report claims Microsoft is expected to invest around $1 billion in this round. Microsoft has already invested substantial sums in OpenAI, whose GPT models power Microsoft AI tools like Copilot and Bing chat.