Apple Exits OpenAI’s $6.5B Funding Round as Microsoft and Nvidia Stay Committed

By Byte Staff News
FILE PHOTO: CEO of Apple Tim Cook gives a presentation as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, U.S. September 9, 2024. REUTERS/Manuel Orbegozo/File Photo

OpenAI is aiming to raise approximately $6.5 billion in this funding round, which is expected to close soon. This round would significantly boost OpenAI’s valuation, potentially to around $150 billion, up from its previous valuation of $86 billion and a substantial increase from the $14 billion valuation in 2021.

Despite Apple’s withdrawal, other major tech companies remain engaged in the talks. Microsoft, which has already invested $13 billion in OpenAI, is expected to contribute an additional $1 billion in this latest round. Nvidia is also in discussions to participate in the funding round.

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