Apple's made a new acquisition, according to reports.
The acquisition which was originally reported by GeekWire, followed Apple’s purchase of AI startup Turi in 2016. Sources with knowledge of the deal told GeekWire that Apple paid an amount similar to what was paid for Turi, in the range of $200 million.
The acquisition suggests that Xnor’s AI-enabled image recognition tools could become standard features in future iPhones and webcams, per GeekWire.
Jeff Marks, senior portfolio analyst at Action Alerts PLUS, weighed in on Apple's latest acquisition and what it means for investors.
Marks said that this acquisition is just a "drop in the bucket" for Apple.
He noted that he thinks the sales of the AirPod Pros are more important than the acquisition.
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