(CTN News) – Apparently, Apple (NASDAQ:AAPL) and Meta (NASDAQ:META) are looking into integrating Meta’s generative AI technology into Apple’s new AI system for iPhone, which has just been announced by Apple.
A potential collaboration between these two companies comes at a time when both companies are increasing their efforts in artificial intelligence, with Apple recently announcing its new “Apple Intelligence” technology and Meta expanding its range of bots built on AI.
The talks have not yet been resolved, but they are an indication of the fact that partnerships are on the rise in the fast moving AI landscape, a landscape which is rapidly changing. Meta’s stock price rose slightly on the news of the company’s acquisition this morning at the opening of the trading day for stock.
The Meta stock rose after news of the Apple AI partnership broke
Earlier this week, reports claimed that Meta Platforms Inc. may collaborate with Apple in order to improve artificial intelligence capabilities.
The company’s stock price increased after those reports appeared on Monday. According to data from Meta’s stock price at 9:59 AM Eastern Daylight Time, the company’s stock was trading at $505.30, up $10.52 or 2.13% from the previous close of $432.85.
It is estimated that market capitalization is approximately $1.28 trillion, and its trading volume stands at 665,608 shares, which is below its daily average trading volume of 13,326,916 shares.
In terms of performance, Meta shares are leading the S&P 500 over a variety of timeframes spanning a range of time frames, with Meta shares outperforming the S&P 500 over a variety of time frames.
There has been a 42.87% increase in shares over the past year, which is greater than the 14.85% increase in S&P 500 stocks over the same period of time. As a result, the company has had a significant return over the last one year, a five-year return of 164.57%, and a one-year return of 75.15%, all of which are significantly higher than the broad market average.
According to the analysts, Meta will reach a market capitalization of $593.00 within the next 12 months, with analysts estimating a range of $260.00 to $593.00 as its price target.
Do the iPhone AI systems use Meta’s Generative AI Model?
Apple is considering a potential partnership with Meta in which Meta’s generative AI model can be integrated into Apple’s iPhone AI system in order to provide users with a better experience.
Despite Apple not directly paying for AI partners’ collaborations, it is likely to provide them with valuable distribution channels through which they can distribute their products.
In the future, Apple Intelligence may be able to enable AI companies to sell premium subscriptions on the basis of the deal structure. As a part of Apple’s broader initiative to integrate AI technology from different companies into its devices, this strategy aligns with Apple’s goal to significantly reduce reliance on any one company in terms of AI technology.
The company has made rapid advancements in the field of Artificial Intelligence in recent years, recently announcing their plan to integrate “Apple Intelligence” across their suite of apps and partnering with OpenAI to enhance Siri’s capability with ChatGPT in the next few years.
Currently, the company is investing heavily in AI features for its customers such as writing suggestions and custom emojis, as well as emphasizing user privacy as well.
Despite the fact that Apple is reserving certain features of its newest operating systems until the end of this year due to regulatory concerns, it plans to implement these AI enhancements in its most recent operating systems later this year.
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