Overview

• On its Q3 earnings call, CEO Tim Cook said Apple is significantly growing its AI investment and is very open to mergers and acquisitions that accelerate its roadmap regardless of target size
• Cook confirmed that Apple has acquired seven small AI startups so far this year to strengthen its machine-learning capabilities
• CFO Kevan Parekh said data-center spending will rise substantially, though not exponentially, to support the company’s expanding AI work
• Apple is exploring larger purchases including Perplexity AI, which recently closed a $1 billion funding round at an $18 billion valuation
• Through its OpenAI partnership, Apple has added ChatGPT features to iPhones even as its own Siri enhancements are delayed until next year