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Fortune
Fortune
Chloe Taylor

Apple is reportedly building an ‘Apple GPT’ to rival OpenAI—with the news adding $71 billion to its multitrillion dollar market value

CEO of Apple Tim Cook arrives at the Sun Valley Lodge for the Allen & Company Sun Valley Conference on July 11, 2023 in Sun Valley, Idaho. (Credit: Kevin Dietsch—Getty Images)

Hype around A.I. has been unavoidable this year, thanks largely to chatbot phenomenon ChatGPT—but as Google, Microsoft and Amazon race to develop powerful generative A.I., one tech giant has been notably absent from the competition.

Big Tech has invested billions of dollars in A.I. since OpenAI’s ChatGPT took the world by storm late last year, with Microsoft using the tech to upgrade its Bing search engine while Alphabet’s Google unveiled its own chatbot, Bard.

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