Apple Inc has acquired an artificial-intelligence startup called Turi, according to multiple reports Friday afternoon. GeekWire originally reported the purchase, citing anonymous sources that said the price tag was roughly $200 million; Bloomberg News reported the same figure in a report later Friday afternoon. Apple uses AI technology to help power its digital assistant, Siri, but is also working on a number of other initiatives for which Seattle-based Turi’s technology would come in handy. Apple shares were unmoved in late trading Friday, after closing with a 1.5% gain at $107.48, the iPhone maker’s highest closing price since mid-April.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News