The Oscar-winning actor withdrew from the role, deciding he was "not right for the part after much deliberation", according to The Hollywood Reporter.
Danny Boyle (Slumdog Millionaire, 127 Hours) is directing the as-yet-untitled Sony film from a script by The Social Network's Aaron Sorkin. Shooting was scheduled to begin this winter but plans are now likely to change.
Boyle is meeting potential actors and actresses this week, with Seth Rogen reportedly being considered for the role of Apple co-founder Steve Wozniak.
The script is believed to be divided into three acts following Jobs' preparation for three Apple product launches that defined both his own life and that of his company. It will feature Sorkin's "trademark fast-paced dialogue".
Sorkin had announced Bale's casting in a Bloomberg TV interview earlier this month, telling viewers that the Batman star was not asked to audition. Bale, however, had not begun official negotiations.
"We needed the best actor on the board in a certain age range and that's Chris Bale," he said. "He didn't have to audition. Well, there was a meeting."
"There isn't a scene or a frame that he's not in," he continued. "There's a tremendous amount of language. So it's an extremely difficult part and he is gonna crush it."
Christian Bale on screen
Christian Bale on screen
1/13 Exodus: Gods and Kings
Bale stars as the 'barbaric' Moses in Ridley Scott's Exodus
2/13 The Dark Knight
Bale took on the iconic role of superhero Batman for Christopher Nolan's 2008 movie
AP Photo/Warner Bros.
3/13 American Hustle
Bale starred as a conman alongside Bradley Cooper in the Oscar-nominated American Hustle
4/13 The Fighter
Bale in his Oscar-winning role as boxer and trainer Dicky Eklund
5/13 Out Of The Furnace
Bale as the vengeful Russell Baze in Scott Cooper's 2013 crime thriller
6/13 The Dark Knight Rises
Bale reprises his role as Batman in a scene from 2012's The Dark Knight Rises
7/13 The Prestige
Bale as magician Alfred Borden in the Oscar-nominated 2006 drama
8/13 Captain Corelli's Mandolin
Bale played Mandras in Captain Corelli's Mandolin alongside Penelope Cruz and Nicolas Cage
9/13 Little Women
Bale as Laurie in the 1994 film adaptation of Louisa May Alcott's classic novel
10/13 Batman Begins
Bale as Bruce Wayne/Batman in 2005's Batman Begins
11/13 American Psycho
Bale starred as Patrick Bateman in the 2000 film adaptation
12/13 Empire Of The Sun
Bale starred in Steven Spielberg's 1987 film as a young boy
13/13 Terminator Salvation
Based on Walter Isaacson's bestselling 2011 biography, the film has been in the pipeline since at least 2012, but there have been problems casting the lead.
Leonardo DiCaprio was in line to play Jobs but opted to shoot The Revenant with Tom Hardy instead, while Matt Damon, Bradley Cooper and Ben Affleck have all been frontrunner at some stage. David Fincher had been in talks to direct before he left over a pay dispute, leaving Boyle to take the helm.
Boyle's biopic is unconnected to last year's Jobs, starring Ashton Kutcher in the title role.Reuse content