Apple open to acquisitions as it accelerates investment in artificial intelligence

Apple CEO Tim Cook said the company is “open” to acquisitions and mergers as it “significantly” increases its investment in artificial intelligence (AI), according to CNBC. The statement came as Apple released its third-quarter results, which revealed that the iPhone maker generated $94 billion in revenue between April and June, up 10 percent from the same period last year.

Apple is often seen as a laggard in the field of artificial intelligence. Its development of what it calls Apple Intelligence is progressing more slowly than its competitors, while Meta is taking on some of its key engineers. The company is increasingly turning to AI startups, with reports suggesting that Apple is even prepared to make major acquisitions to catch up.

In June, Bloomberg reported that Apple was considering working with leading AI companies like OpenAI and Anthropic to power its “LLM Siri” project. It also discussed a potential acquisition of search engine startup Perplexity after Apple appointed Mike Rockwell, the former head of Vision Pro, to lead AI and Siri development in March.

Regarding artificial intelligence, Cook stressed that Apple is “integrating it into all devices, platforms and business processes of the company.” Although Apple is planning a revamped version of Siri with advanced AI features, its wider launch is still uncertain, as the outcome has been postponed. Craig Federighi, senior vice president of software, explained that the system was not yet “robust enough” for widespread use.

“We’re well on our way to a more personalized Siri,” Cook said during the quarterly investor call. “We’re also redeploying a significant amount of staff across the company to focus on AI features.”

Despite the challenges in the UI area, Apple's core business remains strong. iPhone business grew 13 percent year-over-year to $44.6 billion. Mac revenue also rose to $8.1 billion, attributed to the release of the new MacBook Air in March. Apple's Services segment, which includes subscriptions to Apple TV Plus, iCloud and Apple Music, achieved $27.4 billion in revenue, representing a 13 percent increase and the highest value ever.

But the company faces challenges. Apple warned in May that President Donald Trump's tariffs could cost the company at least $900 million in the quarter. The cost could be even higher, as Trump has threatened a tariff of at least 25 percent if Apple doesn't move production to the United States. The company has already moved some production to India to reduce its reliance on China, a move that has not pleased Trump.

Apple is expected to unveil the new iPhone 17 lineup in September, and around the same time, the iOS 26 update is also expected to be released with a new "Liquid Glass" design language, which is already generating mixed reactions among users.