Official announcements from Apple or OpenAI, or major financial news outlets such as Wall Street Journal, Bloomberg, or Reuters

Apple Withdraws from OpenAI's $6.5 Billion Funding Round at 11th Hour

Sep 28, 2024, 01:16 AM

OpenAI is expected to close a funding round totaling $6.5 billion next week, according to the Wall Street Journal. However, Apple has decided to back out of the investment discussions at the 11th hour. This marks a significant shift as Apple was previously in talks to participate in the funding round, which would have been a rare investment by the iPhone maker in another major Silicon Valley company. Additionally, Apple is no longer involved in board discussions.