Apple CEO Tim Cook said the company is “open” to mergers and acquisitions as the company plans to ramp up investments in AI, according to a report from CNBC.
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Apple CEO Tim Cook says the company is “open” to mergers and acquisitions as it “significantly” increases its investment in AI, as reported by CNBC. Cook’s statements were made alongside the release of Apple’s Q3'25 earnings results, revealing that the iPhone maker raked in $94 billion, marking a 10% increase over Q3'24. When speaking about AI, Cook said the company is “embedding it across our devices, across our platforms and across the company,”
Though Apple has touted big plans for an AI-enhanced version of Siri, the timing of its release remains uncertain after the company delayed the revamp. Apple’s SVP of software, Craig Federighi, said it just wasn’t “reliable” enough to release broadly.
”We’re making good progress on a more personalized Siri,” Cook said during an earnings call on Thursday. “We are also reallocating a fair number of people to focus on AI features within the company.”
Despite the AI hiccups, Apple’s core businesses remain strong. Apple’s iPhone business grew 13 percent year over year to $44.6 billion. Mac revenue also saw a boost, reaching $8.1 billion in revenue, likely due to Apple releasing a new MacBook Air in March. Revenue from Apple’s services, which include subscriptions to things like Apple TV Plus, iCloud, and Apple Music, saw a 13% increase to $27.4 billion, which is an “all-time high.”
The remarks come as Apple continues to be seen as behind the AI race, with its efforts on Apple Intelligence lagging relative to its peers and Meta poaching some of its top engineers. The company is increasingly turning to AI startups for help — and reports have suggested that Apple is even open to making big acquisitions to catch up.