Apple CEO Tim Cook said the company is open to mergers and acquisitions as it ramps up artificial intelligence investments, according to CNBC. The announcement came during Apple’s third-quarter earnings call, where the company reported $94 billion in revenue from April to June, a 10 percent year-over-year increase. Cook emphasized that Apple is reallocating staff to focus on AI, aiming to integrate the technology across its devices, platforms, and services.
Apple has been under pressure to catch up in the AI race, with rivals like Meta attracting top engineering talent and companies like OpenAI and Anthropic leading in AI advancements. Bloomberg previously reported that Apple discussed acquiring AI search startup Perplexity and considered partnerships with OpenAI and Anthropic to power a more advanced version of Siri. Although Apple has plans for a personalized AI-enhanced Siri, its release has been delayed due to reliability issues, according to software chief Craig Federighi.
Despite AI challenges, Apple’s core business remains strong. iPhone sales rose 13 percent year over year to $44.6 billion, Mac revenue increased to $8.1 billion, and services revenue, including Apple TV Plus, iCloud, and Apple Music, reached a record $27.4 billion, up 13 percent. Cook highlighted progress on AI development and reassigned staff to accelerate feature integration.
However, trade concerns loom. Apple warned that tariffs from President Donald Trump’s administration could cost the company at least $900 million in the June quarter, with Trump threatening a 25 percent tariff if production is not moved to the U.S. Apple has shifted some manufacturing to India but continues to face political and economic pressures.
Looking ahead, Apple is set to release the iPhone 17 lineup and iOS 26 in September, featuring the new “Liquid Glass” design language. Cook reaffirmed Apple’s commitment to AI, indicating that acquisitions could play a role in speeding up innovation as the company works to strengthen its position in the competitive AI market.
