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Apple just can’t get enough of AI startups, it seems.
The tech giant has reportedly purchased a little known AI-company for around $200 million. According to GeekWire, the acquired company is a Seattle-based startup called Xnor.ai. that specializes in low-power, edge-based artificial intelligence tools.
Bloomberg confirmed the acquisition with an Apple spokesman.
Despite its acquisition by Apple, Xnor.ai owes its existence to Microsoft – sort of. That’s because it’s an alumnus of AI2, an incubator for AI startups funded by Microsoft cofounder Paul Allen’s Institute for Artificial Intelligence .
Apple’s purchases of Turi and Xnor.ai form part of a wider recent tendency on its part towards buying small AI firms.
Last month, it acquired British AI firm Spectral Edge, a Cambridge-based firm that uses combines image-fusion technology with machine learning to dramatically enhance the quality of iPhone photos.
In May last year, Apple CEO Tim Cook said the tech giant acquires a company “on average, every two to three weeks,” with the company “primarily looking for talent and intellectual property” when making these purchases.
(Sources Geek Wire, Business Insider, CNBC, Bloomberg, Apple, Incubator)