Apple's promised AI plan is ‘all that matters', analysts say, as it tries to play catch up with Big Tech rivals [Fortune]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Fortune
Most tech giants have responded by announcing a series of AI-related initiatives—to a mixed reception on Wall Street. Last week, Microsoft gained $54 billion in value on the strong performance of its cloud business, which is growing quickly partly thanks to the AI-frenzy of its business customers. In contrast, Facebook-parent Meta has gone on a spending spree to build data centers and buy servers to prepare for an AI-centric world, causing its shares to tank and shaving more than $130 billion from its market value. But there's one company—Apple—that has left investors impatiently waiting for details about its AI efforts. And all signs point to the company making them wait a little longer as it prepares to announce its fiscal second quarter earnings on Thursday. Apple has yet to unveil any AI initiatives on par with the ambition of its rivals—such as Meta's open-sourced large language model, Microsoft's workplace assistant , Google's integration of AI into its search, and Amazon'
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