By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
8
Notification Show More
Videos
Stocks pop on Japan trade deal news, Big Tech earnings expectations
20 hours ago
Videos
How The U.S. Became So Dependent On SpaceX
21 hours ago
News
John Hancock Alternative Asset Allocation Fund Q2 2025 Commentary (Mutual Fund:JAAAX)
21 hours ago
Videos
President Trump delivers remarks on AI
2 days ago
Videos
Why high earners still feel broke
2 days ago
News
FFLC: Measured Exposure For Growth With Valuation Discipline (BATS:FFLC)
2 days ago
Videos
Alphabet earnings beat expectations, Tesla misses on earnings and revenue
3 days ago
Videos
Why Texas Instruments Is Betting $60 Billion On Making Cheap Chips In The U.S.
3 days ago
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Apple to join OpenAI’s board in observer role
News

Apple to join OpenAI’s board in observer role

News Room
Last updated: 2024/07/02 at 10:29 PM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Apple is set to take an observer role on the board of OpenAI, giving the iPhone maker similar insight into the artificial intelligence start-up as Microsoft, its biggest backer.

The board role was agreed as part of a deal between Apple and OpenAI, announced last month, to integrate ChatGPT into Apple devices. Tim Cook, the iPhone maker’s chief executive, said the partnership would be part of a suite of AI features for users, such as an enhanced Siri voice assistant, as it took the “next big step” to incorporate the technology into its products.

Phil Schiller, the head of Apple’s App Store and a member of its executive team since 1997, will take on the board observer role later this year, said a person with knowledge of the matter. The news was first reported by Bloomberg. OpenAI and Apple declined to comment.

The observer position means Schiller can attend OpenAI board meetings although he cannot vote on any board decisions. It puts Apple on a par with Microsoft, which also gained a non-voting observer role last year.

Microsoft has invested about $13bn in OpenAI as part of a strategic partnership that allows the ChatGPT maker to use Microsoft’s massive computing and cloud resources while remaining an independent business.

Microsoft is entitled to about half of OpenAI profits until the investment is repaid, according to the terms of the deal.

OpenAI revamped its board in March, with Sam Altman, the start-up’s founder and chief executive, rejoining after his dramatic ousting last November. A review into the boardroom chaos found no evidence that he misled investors or pushed product releases at an unsafe pace, concerns that led to him being fired and then reinstated days later.

It added three new board members including Instacart chief executive Fidji Simo, former Bill & Melinda Gates Foundation head Sue Desmond-Hellman, and Nicole Seligman, ex-president of Sony Entertainment. Former US Treasury secretary Larry Summers was appointed to the board late last year, and a member of the previous board, Quora chief executive Adam D’Angelo, also remains in place.

The Apple deal came as tech giants including Alphabet, Microsoft, Amazon and Meta are racing to develop new products using AI while also competing with — or in some cases, partnering with — start-ups focused on the technology. That has drawn scrutiny from US antitrust regulators which have demanded information about the partnerships between Big Tech and emerging AI groups.

Apple will not pay OpenAI to use ChatGPT, but the deal will give the start-up access to hundreds of millions of users. Apple’s suite of generative AI features, dubbed “Apple Intelligence”, is expected to launch later this year.

Additional reporting by Michael Acton

Read the full article here

News Room July 2, 2024 July 2, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Stocks pop on Japan trade deal news, Big Tech earnings expectations

Watch full video on YouTube

How The U.S. Became So Dependent On SpaceX

Watch full video on YouTube

John Hancock Alternative Asset Allocation Fund Q2 2025 Commentary (Mutual Fund:JAAAX)

This article was written byFollowA company of Manulife Investment Management, John Hancock…

President Trump delivers remarks on AI

Watch full video on YouTube

Why high earners still feel broke

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

John Hancock Alternative Asset Allocation Fund Q2 2025 Commentary (Mutual Fund:JAAAX)

By News Room
News

FFLC: Measured Exposure For Growth With Valuation Discipline (BATS:FFLC)

By News Room
News

Allspring Special Small Cap Value Fund Q2 2025 Commentary (ESPAX)

By News Room
News

Allspring Emerging Markets Equity Advantage Fund Q2 2025 Commentary (undefined:EQIAX)

By News Room
News

Companhia de Saneamento Básico do Estado de São Paulo – SABESP 2025 Q2 – Results – Earnings Call Presentation (NYSE:SBS)

By News Room
News

Jay Powell to deliver Jackson Hole address under fire on multiple fronts

By News Room
News

Meta and Character.ai probed over touting AI mental health advice to children

By News Room
News

A letter for Melania and a suit: Zelenskyy charms Trump in the Oval Office

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?