Apple Is Open to Buying Companies to Get Ahead in the AI Race
Cook said, 'We are embedding it across our devices and platforms and across the company. We are also significantly growing our investments.' He also confirmed the brand is reallocating a "fair number of" employees to work on Apple Intelligence features.
This came as part of a celebratory earnings call for the company where the brand beat expectations for the third fiscal quarter. It saw results up 10% from the same period a year ago, bringing in a revenue of $94 billion between April and June 2025.
Apple has been criticized for being slow to act on artificial intelligence features with a false start to an AI-powered version of Siri highlighting its struggles. The brand has also reportedly lost numerous AI engineers is recent months with four experts moving to rival Meta.
Ahead of the earnings call, Apple told CNBC it was open to acquiring companies that may help it get ahead in the AI race. Apple says it has made seven acquisitions this year, but it confirmed none of them were 'huge in terms of dollar amount.'
Cook said, 'We're open to M&A that accelerates our roadmap.' He didn't share any of the targets in Apple's sights, but a previous report in June, from Bloomberg, said Apple was reportedly considering a purchase of AI search tool Perplexity.
Another report in July said the brand was considering partnering with Anthropic or OpenAI to help power some of Siri's features. None of these reports have been confirmed by Apple.
This new earnings call is the first time Apple has publicly noted it is open to buying new companies to help its work in the AI space. In the meantime, the brand is working hard on new Siri features, which Apple execs have said won't be launching until 2026.
The earnings call also saw Cook note the impact of US tariffs on its business. He shared that Apple has spent $800 million on tariffs during the last quarter, and he believes with no further changes to charges, Apple will see $1.1 billion added between July and September.
That period will likely involve the launch of a new iPhone 17 series, and the brand may introduce other gadgets alongside it. Apple also confirmed on the earnings call that the iOS 26, macOS 26, and iPadOS 26 developer betas were the most popular trials it has ever run.
Apple is also celebrating a major milestone of becoming the second company ever to sell over three billion phones. Analysts believe Samsung hit that target between 2014 and 2024, but it has likely sold far more as the brand also made handsets before 2014.
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