Apple Acquires DarwinAI in AI Race | ORBITAL AFFAIRS

- Advertisement -

Apple Reportedly Buys DarwinAI in iPhone Maker’s Push into AI Race

Apple shares edged 1% higher Thursday amid reports that the company bought DarwinAI, a Canadian artificial intelligence (AI) startup, in what could be an important step in the iPhone maker establishing its place in the AI boom. The company acquired DarwinAI in early 2024, absorbing dozens of the AI startup’s employees, Bloomberg reported.

- Advertisement -

Apple’s Move into AI

Compared to some of its big tech peers like Microsoft, Google parent Alphabet, and Meta, the iPhone maker has lagged in publicly integrating AI tech into its products and services. However, with the acquisition of DarwinAI, Apple seems to be making a significant move towards catching up with its competitors in the AI race.

- Advertisement -

On the company’s latest earnings call, CEO Tim Cook hinted at the developments in Apple’s AI projects. Cook mentioned that Apple has “some things that we’re incredibly excited about, that we’ll be talking about later this year.” He emphasized that there is a lot of internal work happening at Apple related to AI but refrained from providing specific details to avoid getting ahead of themselves. Cook did express optimism about the potential for Apple in the GenAI and AI space.

Analysts’ Perspective

Bank of America analysts have given Apple a “buy” rating, citing expectations of an accelerated iPhone upgrade cycle in 2025 driven by AI-capable devices. This forecast indicates that Apple’s foray into AI could have significant implications for its product offerings and market positioning in the coming years.

Despite the positive news surrounding Apple’s acquisition of DarwinAI and its potential AI-related developments, Apple’s stock has experienced fluctuations. Apple shares finished 1% higher at $173 on Thursday, but the stock has fallen more than 6% since the beginning of 2024. However, over the past year, Apple’s stock has gained 13%, reflecting investor confidence in the company’s long-term prospects.

- Advertisement -

Conclusion

Apple’s reported purchase of DarwinAI signals a strategic move by the tech giant to strengthen its position in the rapidly evolving AI landscape. With competition intensifying among major tech companies to leverage AI capabilities in their products and services, Apple’s entry into this space could have far-reaching implications for its future growth and innovation.

As Apple continues to explore opportunities in AI and prepares to make related announcements later in the year, investors and industry observers will be closely monitoring the company’s progress in this space. With the potential for an accelerated iPhone upgrade cycle driven by AI technology on the horizon, Apple’s strategic investments in AI could position it favorably in the competitive tech landscape.

Overall, Apple’s acquisition of DarwinAI underscores the company’s commitment to staying at the forefront of technological advancements and harnessing the power of AI to enhance its products and services. The coming months are likely to reveal more about Apple’s AI strategy and how it plans to leverage this cutting-edge technology to drive innovation and growth.

For more information, read the original article on Investopedia.

News Desk

- Advertisement -

Explore more

Taylor Swift Performs “Tortured Poets Department” Live in Portugal for the...

Taylor Swift is wowing the Portuguese crowd with a mix of her recent and past surprise hits! On Saturday, May 25, the 34-year-old singer...
Knives Out 3 Release Date and Cast: Renewal Details | ORBITAL AFFAIRS

Knives Out 3 Release Date and Cast: Renewal Details | ORBITAL...

Netflix has officially revealed the official title and release date for the third edition of Rian Johnson’s critically acclaimed murder mystery trilogy. Netflix announced...

Zendaya Supports Tom Holland at Premiere in “Romeo and Juliet” Dress...

You already know that Zendaya was present to support Tom Holland during his performance in yesterday night’s Romeo and Juliet premiere. After the performance,...
"Pillion: Alexander Skarsgård Release Date Revealed!"

“Pillion: Alexander Skarsgård Release Date Revealed!”

Alexander Skarsgård and Harry Melling are the stars of the forthcoming sensual romance film, Pillion. The narrative centers on Ray (Skarsgård), the dashing commander...
Brothers Streaming Release Date & Where to Watch | ORBITAL AFFAIRS

Brothers Streaming Release Date & Where to Watch | ORBITAL AFFAIRS

The Brothers Amazon Prime Video release date is imminent, and viewers are eager to begin streaming the film. Max Barbakow is the director of...

“A Simple Favor: True Story or Fiction? | ORBITAL AFFAIRS”

If you have already watched “A Simple Favor” then you may notice that this film provides a real-world feel that’s why it is not...
Mulligan Season 3 Release Date Announcement | ORBITAL AFFAIRS

Mulligan Season 3 Release Date Announcement | ORBITAL AFFAIRS

Mulligan, an adult-animated sitcom that is currently available on Netflix, was developed by Sam Means and Robert Carlock. In the aftermath of an extraterrestrial...
Comparing COTS, Customized, and In-House Solutions for the Space Industry

Comparing COTS, Customized, and In-House Solutions for the Space Industry

Learn about the ongoing debate in the space industry between the use of Commercial Off The Shelf (COTS) components and customized and in-house development...