SAN FRANCISCO, Aug 1 — Apple CEO Tim Cook signalled on Thursday the iPhone maker was ready to spend more to catch up to rivals in artificial intelligence by building more data...
Apple has struggled to keep pace with rivals such as Microsoft and Alphabet’s Google, both of which have attracted hundreds of millions of users to their AI-powered chatbots and assistants. — Reuters picand flexible withdrawals.
During a conference call after Apple’s fiscal third-quarter results, analysts noted that Apple has historically not done large deals and asked whether it might take a different approach to pursue its AI ambitions. CEO Cook responded that the company had already acquired seven smaller companies this year and is open to buying larger ones.
Apple has tended to buy smaller firms with highly specialised technical teams to build out specific products. Its largest deal ever was its purchase of Beats Electronics for US$3 billion in 2014, followed by a US$1 billion deal to buy a modem chip business from Intel.
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