Apple reportedly in talks to invest in OpenAI: WSJ

Investing.comAug 29, 2024 6:44 PM

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Investing.com -- Apple is in talks to invest in OpenAI as the tech giant looks to make up ground in the artificial-intelligence race, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The investment from Apple is part of new OpenAI funding round, led by venture capitalist firm Thrive Capital. Microsoft (NASDAQ:MSFT), which already holds a 49% a stake in OpenAI, is also set to join the funding round.

Information about how much Apple or Microsoft would invest in OpenAI's funding round round wasn't immediately available, the Journal reported.

Apple's talks to invest in OpenAI comes after the company at its June developers conference unveiled its AI platform "Apple Intelligence" that would feature a new version of Siri powered by OpenAI's generative AI model ChatGPT.

Apple Inc (NASDAQ:AAPL) was up more than 2% in recent trade.

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