Tim Cook says Apple acquired over half a dozen AI companies this year, and is "very open" to buy even more
CEO
Tim Cook
says that the company is "significantly growing" its artificial intelligence investments and remains "very open" to acquisitions that could accelerate its AI roadmap, marking a strategic shift as the company faces mounting pressure to catch up with Silicon Valley rivals in the AI race.
Speaking during Apple's third-quarter earnings call, Cook revealed the company has already acquired approximately seven companies this year, though he noted they were "small in nature" compared to potential future deals. "We're very open to M&A that accelerates our roadmap," Cook stated. "We are not stuck on a certain size company."
The
iPhone
maker is dramatically reshaping its internal structure to prioritise AI development, with Cook confirming that Apple is "reallocating a fair number of people to focus on AI features within the company."
Apple's capital expenditures reached $3.46 billion in the June quarter, up from $2.15 billion the previous year, though still modest compared to competitors like Google's projected $85 billion for fiscal 2025, while Meta estimates up to $72 billion in annual spending.
"We see AI as one of the most profound technologies of our lifetime," Cook emphasised. "It will affect all devices in a significant way."
Apple's AI investment surge coincides with delays in its promised
Siri
overhaul, which has been pushed to spring 2026. Despite these setbacks, Cook maintained optimism about progress, telling investors the team is "making good progress on a more personalised Siri."
The company's financial performance remains robust, with third-quarter revenue reaching $94 billion, a 10% year-over-year increase. iPhone sales grew 13% to $44.6 billion, while services revenue hit an all-time high of $27.4 billion.
Cook's comments signal Apple's determination to close the AI gap with tech giants who have invested tens of billions in the technology. "We have a great team, and we're putting all of our energy behind it," he concluded, reinforcing Apple's commitment to AI leadership despite its delayed entry into the market.
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