Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Apple Inc. (NASDAQ:AAPL) has acquired edge-based artificial intelligence startup Xnor.ai, GeekWire reported on Wednesday, citing sources close to the matter.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Cupertino-based technology giant has reportedly paid $200 million for Xnor's acquisition, whose early investors included Seattle-based Madrona Venture Group and the University of Washington.
The startup spun out of Microsoft Corporation (NASDAQ:MSFT) co-founder Paul Allen's Seattle-based Allen Institute for AI, better known as AI2.
AI2's Kitt.ai was acquired by Chinese search engine giant Baidu inc. (NASDAQ:BIDU), GeekWire noted.
What's Next
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Apple confirmed the acquisition to GeekWire and other publications, with its standard response in such matters.
"Apple buys smaller technology companies from time and time and we generally do not discuss our purpose or plans," the company said.
Xnor, whose staff is already moving to Apple's office according to GeekWire, could make an appearance in Apple's near-future devices with its technology.
The startup's particular unique selling proposition is its ability to make AI work on low-powered devices, meaning it is likely to feature in Apple's devices with more limited hardware-capacity than the iPhone.
Price Action
Apple's shares closed 0.43% lower at $311.34 on Wednesday.
Photo Credit: Public domain photo via Wikimedia.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.