Apple CEO Tim Cook confirmed the company is open to acquiring artificial intelligence firms as it accelerates its investment in AI. Speaking after Apple’s third-quarter earnings report, which showed $94 billion in revenue—a 10 percent increase year over year—Cook emphasized Apple’s strategy of embedding AI across its devices, platforms, and operations. The company has been seen as lagging behind in AI development, with rivals like Meta poaching talent and Apple Intelligence progress slower than expected. To close the gap, Apple has considered working with AI leaders such as OpenAI and Anthropic, and even discussed acquiring AI search startup Perplexity.
Cook said Apple is reallocating staff to focus on AI features, including work on a more advanced and personalized Siri. However, the planned AI-enhanced Siri release remains delayed due to reliability issues, with software chief Craig Federighi previously noting it was not ready for broad use. Despite these AI challenges, Apple’s core business remains strong. iPhone revenue grew 13 percent to $44.6 billion, Mac revenue climbed to $8.1 billion following the release of a new MacBook Air, and Apple’s services revenue hit an all-time high of $27.4 billion, also up 13 percent.
Apple faces external pressures as well, including potential tariffs from former President Donald Trump, which could cost the company hundreds of millions of dollars if production isn’t moved to the US. While Apple has already shifted some manufacturing to India, Trump has threatened tariffs of “at least” 25 percent. Looking ahead, Apple plans to launch its iPhone 17 lineup and roll out iOS 26 in September, introducing the new “Liquid Glass” design. Despite setbacks in AI development, Apple’s overall financial health and product pipeline remain robust, with Cook reaffirming AI as a key area of focus for the company’s future growth.
