Apple acquires most AI startups in 2024, beats Google and Meta

AI startup spree: American technology giant Apple has pipped peers in BigTech to acquire the most number of startups in 2023.

Apple has bought up to 32 AI startups by 2023, which is the highest number among tech giants.  

Following the rise in artificial intelligence and emerging technologies, the Cupertino-headquartered company has made bids for top-notch talent and crucial AI domains amid the evolving tech landscape.

The company’s CEO Tim Cook said Apple is focused on AI research, but did not say if there is anything to hold onto in terms of new developments.

Google, which has Gemini (earlier Bard) as its artificial intelligence tool to type, talk or add an image on the go, was next in line for AI acquisitions at 21.

The next BigTech in line for AI acquisitions is Mark Zuckeberg-owned Meta, which has acquired 19 startups. While Bill Gates-founded Microsoft has invested in the acquisition of 17 startups, American e-commerce major Amazon has deployed money towards purchasing 10 AI startups.

In 2020, Apple Inc. acquired an AI startup by the name of Voysis which makes digital voice assistants naturally aiding in understanding natural language. The acquisition was aimed at enhancing the functionality of Siri, which is Apple’s virtual assistant deployed within its devices.

“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,” Stocklytics Finacial Analyst, Edith Reads was quoted as saying.

Apple has specifically targeted early-stage startups in order to invest in trends before they are adopted in the mainstream. 

Even as rivals Google and Samsung launched their own AI, with Samsung’s Galaxy AI a part of its S24 and S24+ range, Apple has offered software upgrades and also enhanced the hardware in devices with the help of AI and machine learning.

Companies like Google and Samsung have moved progressively faster with their latest phones and devices, building their own generative AI.