Apple’s AI Deal Reshuffles Rankings 6/13/24
Apple shook up the AI arms race this week, after unveiling its system "Apple Intelligence" and a partnership with OpenAI. But that could potentially put Microsoft, an early winner, on the backfoot. Apple briefly surpassed Microsoft in terms of market cap today, and new details in the Apple-OpenAI deal makes Microsoft look more like an AI cloud provider and less of an innovative AI pioneer.
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Show Notes
Shares of Apple are hitting fresh highs today after showcasing at WWDC that it is not only catching up to the other megacaps, but may actually have leapfrogged the leaders. Its edge is its 2.2 billion install base and its focus on making AI usable by integrating it with your personal information. A slew of bullish commentary from the Street is also helping sentiment, outlining how Apple’s AI features will drive hardware sales later this year.
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