Apple, Nvidia eye investments in OpenAI

Apple and Nvidia plan to invest in OpenAI and be a part of a funding round led by Thrive Capital and Microsoft, which would value the ChatGPT maker at over $100 billion, the Wall Street Journal reported.

The iPhone maker’s decision is out of the ordinary as it hardly ever invests in startups. Apple aims to enhance its artificial intelligence (AI) capabilities with this funding.

Thrive plans to invest $1 billion. It could boost OpenAI’s valuation of $80 billion by over $20 billion. Microsoft currently holds a 49% share in the company.

Unlike the previous agreements, the new deal could allow OpenAI’s existing shareholders to sell their shares.

Nvidia, the chipmaker key to AI developments, recently reported a surge in sales and profit.

Additionally, Apple plans to integrate OpenAI’s chatbot into iPhones and enhance Siri with new AI features, which will be announced on September 9.