Apple’s Aversion to Big Deals Could Thwart Its AI Push

This summer, investment bankers came knocking on Apple’s door with a pitch: Was the iPhone maker interested in doing a major acquisition or some other kind of deal in artificial intelligence?  So far, the only answer it has given them is: not so much.

In the current AI frenzy, nearly all of Apple’s peers in big tech have thrown open their wallets to spend billions of dollars on AI deals, including licensing agreements that have allowed them to pluck top talent from startups in the field. But not Apple. The company has, with few exceptions, stuck to small acquisitions throughout its history (it has done around seven such deals this year alone). Some of them have played an important role in the development of its products.