OpenAI to Receive Financial Support from major tech companies like Apple, Microsoft, and NVIDIA to help secure its future.
Lately there were reports OpenAI might be in trouble and close within a year.
The company is likely going to lose as much as $5 billion, and they need a fresh capital to keep it going. According to CNBC, these tech giants are considering raising funds for OpenAI, pushing this startup’s value north of the $100 billion mark. OpenAI is now valued at $29 billion as of 2023. Apple, Microsoft and NVIDIA seem to keenly offer a helping hand in this investment.
Why are these big companies helping out OpenAI?
Well, it’s not too surprising. Microsoft already helps fund OpenAI, but there were some problems with the people in charge. Now, NVIDIA (the biggest maker of AI computer parts) is stepping in to help OpenAI (a very famous AI company). They want to work together to make AI better! Apple also uses OpenAI’s models for its AI services, called Apple Intelligence Services.
Even though Microsoft, Apple, and NVIDIA are competitors in the AI market, it’s interesting to see them come together to save OpenAI. We don’t know yet how much NVIDIA and Apple will invest or what the exact conditions will be. We’ll have to wait and see how things turn out.
Also Read: NVIDIA AI Revenue Growth Hits Record $30 Billion in 2024
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