- Apple Inc. has expanded its artificial intelligence capabilities by acquiring Canadian startup DarwinAI, enhancing its technological arsenal in preparation for a significant foray into generative AI in 2024. The acquisition, completed earlier this year, has seen numerous DarwinAI employees integrate into Apple's artificial intelligence division, as reported by sources familiar with the matter.
- DarwinAI specializes in AI technology for visual inspection of manufacturing components and caters to a diverse range of industries. One of its key innovations involves optimizing artificial intelligence systems for improved speed and efficiency, a capability that aligns with Apple's focus on deploying AI on devices rather than relying solely on cloud infrastructure.
Why it matters
The news briefly boosted Apple's shares by over 1% to $173.37. Despite this uptick, Apple's shares have experienced a 10% decline for the year, reflecting broader market trends and investor sentiment.
