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Baystreet Staf - Monday, March 18, 2024
Apple To License Alphabet's Gemini A.I. For iPhones: Reports
According to multiple media reports, Apple (AAPL) is planning to license Gemini artificial intelligence (A.I.) technology from Google parent company Alphabet (GOOG / GOOGL) and
use it with future iPhones.
Gemini is Google's suite of generative A.I. tools. The technology encompasses everything from chatbots to coding assistants.
According to the reports, Apple plans to license the technology from Alphabet and build the Gemini A.I. engine directly into future editions of the iPhone, providing the smartphone with its most significant upgrade in years.
For Alphabet, the licensing deal will help it to monetize its A.I. products as it competes against rivals such as Microsoft (MSFT) for supremacy in the fast-growing area of technology.
The media reports state that Gemini could also power new features due to be released to the iPhone through software updates later this year.
Apple is widely expected to launch iOS 18, a new operating system for the iPhone, at its Worldwide Developer's Conference scheduled to take place in June of this year.
Media reports state that the two companies are in the process of finalizing the terms and branding around an A.I. licensing agreement.
Apple's stock has gained 10% in the last 12 months to currently trade at $172.62 U.S. per share.
Alphabet's share price has risen 40% over the past year and now trades at $141.18 U.S.
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