Apple Acquires Artificial Intelligence Startup (AAPL)

Apple Inc. (AAPL) is spending some of its cash. A week after beating Wall Street’s third-quarter revenue and earnings estimates, the iPhone maker has acquired Turi, an artificial-intelligence (AI) startup that helps app developers to create more intuitive programs, according to multiple reports Friday afternoon. The terms of the deal are unknown at this point, but Bloomberg is among several outlets putting the price tag for Seattle-based Turi’s technology at around $200 million. Turi has been touted as having strong AI algorithms that can detect multiple patterns of data and of various types, including video, audio, text and images. And as with other AI technologies, Turi’s intelligence and capabilities improve as more data is added. (See also: When Will Apple Step Up to the AI Challenge.) These capabilities come in…

Link to Full Article: Apple Acquires Artificial Intelligence Startup (AAPL)

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