Updated 20.7.2023 11:04
The Tech Giant’s AI Endeavors Could Reshape the Investment Landscape Yet Again.
Even Further Upside May be on The Horizon for Apple Investors.
Apple’s AI Ambitions
Apple Inc., the tech giant known for its innovative products, is quietly working on artificial intelligence (AI) tools that could rival those of OpenAI Inc., Alphabet Inc.’s Google, and others. The company is developing its own framework, known as “Ajax,” to create large language models (LLMs), the AI-based systems at the heart of new offerings like ChatGPT and Google’s Bard.
The Rise of “Apple GPT”
With the Ajax foundation, Apple has also created a chatbot service that some engineers call “Apple GPT.” This tool is designed to summarize text and answer questions based on the data it has been trained with. Currently, it is being used internally for product prototyping, and employees say the tool essentially replicates Bard, ChatGPT, and Bing AI, functioning as a web application.
The Impact on the Market
News of Apple’s AI developments has already made waves in the market, with Apple’s shares rising as much as 2% to a record high. This development has put other tech giants on notice, with shares of Microsoft, Nvidia, and Alphabet dropping more than 1% after the report.
The Future of AI at Apple
While Apple has yet to devise a clear strategy for releasing these AI tools to consumers, the company is aiming to make a significant AI-related announcement next year. This move into AI represents a significant shift for Apple, which has traditionally been more reserved in its AI efforts compared to other tech giants. With constant innovations, it’s no wonder investing legends such as Warren Buffet have such large positions of Apple in their portfolio:
????Witness the remarkable growth of Warren Buffett’s portfolio from 1994 to 2022????.
????A true legend and king of investing!$BRK.B – Investment holding$KO – Beverage industry$AAPL – Technology$AXP – Financial Services$WFC – Banking$BAC – Banking$KHC – Food & Beverage$MCO -… pic.twitter.com/cuD7KkoOuo
— dan wilson (@nadwilson) July 20, 2023
Also Read: AI and Hollywood: A Radical Paradigm Shift
Opportunity for Investors
For investors, this represents a golden opportunity. As Apple delves deeper into AI, it opens up new avenues for growth and innovation. The company’s move into AI could potentially revolutionize its product offerings and provide a significant boost to its stock value.
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Disclaimer: Wealthy VC does not hold a long or short position in any of the stocks mentioned in this article.
