Nvidia and Apple in talks to invest in OpenAI
OpenAI uses Nvidia’s chips to power its AI services. Apple brought chatbot ChatGPT to its devices in June, making OpenAI the first official partner for Apple Intelligence.
Apple and Nvidia are said to be in talks, separately, to invest in ChatGPT maker OpenAI as part of a new round of fundraising.
The Wall Street Journal was the first to report on Apple’s potential involvement while Nvidia’s interest was reported by Bloomberg News.
According to estimates, the fundraising could value the AI firm to above USD 100 billion.
Apple brought chatbot ChatGPT to its devices in June, making OpenAI the first official partner for Apple Intelligence. OpenAI uses Nvidia’s chips to power its AI services.
Meanwhile, venture capital firm Thrive Capital is also investing nearly USD 1 billion in OpenAI, media reports say.
Microsoft, which has already invested over USD 10 billion in OpenAI, is likely to participate in the next funding round too.
Chipmaker Nvidia is one of the most valuable companies in the world, with a market value of around USD 3 trillion.
Though Nvidia posted a 122% increase in second-quarter revenues compared with the same period last year, investor worry over slowing growth and production issues led to a fall in its shares. The company’s revenues for the period more than doubled to USD 30 billion, beating average analyst estimates.