OpenAI Seeks $100 Billion-Plus Valuation In New Funding Round: Reports
OpenAI is reportedly courting Apple as an investor.
OpenAI is reportedly courting Apple as an investor in a funding round that would take the ChatGPT creator and artificial intelligence innovator to a valuation of more than $100 billion.
Apple rival Microsoft – which has invested about $13 billion into OpenAI, owns 49 percent of the upstart’s profits, serves as the organization’s exclusive cloud provider and almost hired CEO Sam Altman during his brief ouster – is an expected funding round participant, according to The Wall Street Journal.
Venture capital firm Thrive Capital will lead the round with an investment of about $1 billion, according to The New York Times. OpenAI was valued at $86 billion late last year.
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OpenAI Funding Round
CRN has reached out to OpenAI, Microsoft and Apple for comment.
The news of Apple potentially investing in San Francisco-based OpenAI comes weeks after the Cupertino, Calif.-based device maker unveiled an integration between generative AI (GenAI) tool ChatGPT and Apple Intelligence, a suite of AI features that will enhance Siri’s natural language understanding in iOS 18.
Tech giants have put big money into startups and organic innovation to win the ongoing AI arms race, with some deals even earning scrutiny from government agencies worldwide.
Microsoft’s OpenAI partnership has leant itself to new AI tools solution providers can sell and AI capabilities across the product portfolio. But the AI movement is still in its early days in the channel.