(Reuters) -Apple is in talks to invest in OpenAI as part of a new fundraising round that would value the ChatGPT maker above $100 billion, Wall Street Journal reported on Thursday, citing people familiar with the matter.
The news comes a day after the Journal reported that venture-capital firm Thrive Capital would invest around $1 billion in OpenAI, leading the funding round.
Apple (NASDAQ:) and OpenAI did not immediately respond to Reuters requests for comment, while Thrive Capital and Microsoft (NASDAQ:) declined comment.
OpenAI has become increasingly important to Apple’s artificial intelligence strategy, with the iPhone maker bringing the AI firm’s chatbot, ChatGPT, to Apple devices in June as part of “Apple Intelligence.”
Apple was also reported to gain an observer role on OpenAI’s board.
Microsoft, OpenAI’s largest strategic investor with over $10 billion invested, is also expected to participate in the funding round, according to the report.
The exact investment amounts from Apple and Microsoft remain undisclosed.
OpenAI’s high valuation is a result of the AI arms race it sparked with the launch of ChatGPT in late 2022, prompting companies across industries to invest billions in the technology to stay ahead of the competition and capture market share.
The Sam Altman-led firm was reportedly valued at $80 billion in February after completing a deal where the company would sell existing shares in a so-called tender offer led by Thrive Capital.
