A new Report Claims that Apple Acquired the highest number of AI Companies in 2023, more than Google and Amazon Combined
Apple’s pursuit of AI innovation has been evident in recent years. The tech giant has made a series of strategic acquisitions, including staff hires from AI startups to bolster its AI capabilities across various product lines. According to Stocklytics.com, Apple purchased an estimated 32 AI startups by 2023, the highest number among tech giants. In the overall AI startup acquisition, Google trails Apple with 21, Meta with 18, and Microsoft lags with 17.
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Stocklytics financial analyst Edith Reads commented on the data: "In the ongoing AI arms race, Apple is making sizeable deals with many AI startups, putting it in a good spot for future tech developments even as its competitors, Microsoft and Google, make considerable investments in already established AI companies. By acquiring promising AI startups, Apple gains access to top-tier talent and innovative technologies and consolidates its foothold in crucial AI domains, ensuring a competitive edge in the rapidly evolving tech landscape."
Apple has been quite subtle in increasing its AI capabilities. Although Apple has yet to unveil its plans with the newly found insight into AI technology, Apple's CEO Tim Cook stated the following during the most recent Financial Conference Call earlier this month; “As we look ahead, we will continue to invest in these and other technologies that will shape the future. That includes artificial intelligence where we continue to spend a tremendous amount of time and effort, and we’re excited to share the details of our ongoing work in that space later this year.” Such news is likely to appear during WWDC24.
Stocklytics added that "Apple’s acquisition strategy reflects a multifaceted approach to AI advancement, encompassing talent acquisition, technology integration, and intellectual property expansion."
It should be noted that the Stocklytics report lacked the names of newly acquired AI companies in 2023 except for WaveOne. The other AI companies listed in the report were actually acquired prior to 2023. It appears that the report banks on the chart (and perhaps a paid-for-report) provided by Statista.
Side Note: Stocklytics defines itself as "a groundbreaking analytics platform designed for comprehensive analysis of the Stock Market. With its advanced tools and real-time data insights, investors gain a competitive edge in making informed decisions and maximizing their portfolio's potential."