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Apple aims to tell an AI story without AI bills

Economic TimesEconomic Times Ā· 6m
Apple aims to tell an AI story without AI bills

Apple CEO Tim Cook has assured investors that the company will soon have concrete plans for artificial intelligence (AI). Cook mentioned that Apple has made significant investments in generative AI and has spent $100 billion on research and development in the past five years. While Apple's tech rivals have spent comparable amounts on R&D and building data centers for AI services, Apple has taken a different approach. Cook hinted at new AI features being unveiled at the upcoming software conference and the integration of AI-ready chips into product lines. However, CFO Luca Maestri noted that Apple's capital expenditures strategy will remain the same, relying on data center capacity from third parties. It remains uncertain whether AI features alone will significantly boost device sales.

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