New report reveals Apple is not investing in OpenAI after all.

According to a report by The Wall Street Journal, Apple has pulled out of plans to invest in OpenAI, just as the AI company is set to close a $6.5 billion funding round, with potential investments from Microsoft and Nvidia. Apple's decision to exit the talks happened at the last minute. The tech giant had been rumored to be considering an investment last month, though the size of that potential investment was unclear. 

Microsoft, already a significant investor in OpenAI with a 49% stake in its profits, is expected to add another $1 billion in this funding round. Meanwhile, Apple’s decision to pass on the investment follows leadership shifts at the company, including former Apple design chief Jony Ive working with OpenAI on a new AI hardware product.

Separately, Apple and OpenAI are collaborating to integrate ChatGPT into iOS 18 later this year. This partnership will allow ChatGPT to handle knowledge-based requests alongside Siri, though neither company is exchanging money for this integration. Apple sees the exposure OpenAI will receive from this collaboration as equally valuable to financial compensation, according to Bloomberg.