Sound Planning Group CEO David Stryzewski responded to reports that Apple is developing AI chips for data centers on The Big Money Show.
Apple is set to hold its annual Worldwide Developers Conference (WWDC) this week, with analysts eager to hear announcements about the tech giant’s artificial intelligence (AI) efforts, which have so far been less prominent than those of its rivals.
WWDC festivities begin on Monday in Cupertino, California. The latest Apple software and technologies will be revealed during the keynote address at 10 a.m. PST, followed three hours later by a State of the Union address highlighting new advancements to Apple’s platforms, opening the event.
Apple has been less public about its AI developments than rivals like Google and Microsoft, but the new AI features and products unveiled at the highly anticipated conference have analysts predicting the news will help the tech giant make further advances.
“WWDC next week marks a new beginning for Apple,” Wedbush Securities analysts wrote in an investor note. “We believe it will start with Apple introducing AI to its all-important developer community and laying the foundation for bringing generative AI to consumers.”
Airline passenger uses Apple Watch to track stolen luggage to airport employee’s home
Analysts are eagerly awaiting Apple’s expected AI product announcements at its annual Worldwide Developers Conference, which starts on Monday. (Photo by Gabriel Lurie/AFP via Getty Images)
According to a note from Wedbush analysts, Apple will combine OpenAI’s chatbots, powered by its own AI chips, with its own large-scale language models (LLMs) as part of an exclusive partnership.
“In our view, we expect the formal announcement of the flagship partnership with OpenAI will consist of 1) on-device Apple LLM and 2) cloud-based LLM, as well as an OpenAI chatbot with unique capabilities based on Apple running the AI on its own high-end chips,” the analysts wrote.
Comcast Announces Pricing for Peacock, Netflix and Apple TV+ Streaming Bundles
Apple CEO Tim Cook speaks at the tech giant’s 2022 WWDC. (Photographer: David Paul Morris/Bloomberg via Getty Images/Getty Images)
Additionally, software developers building apps on Apple’s iOS operating system will be provided with a new app store where they can showcase their apps and take advantage of Apple’s growing AI ecosystem.
“We also believe that Apple will lay the foundation for an AI App Store, driving further growth of the service over the next few years as developers build consumer apps on the AI stack that Cook and others will unveil at WWDC,” the analysts wrote. “As more developers create AI-related apps over the next 12 months, we expect this activity and monetization to take place within Apple’s ecosystem, leveraging its unmatched installed base around the world.”
What is Artificial Intelligence (AI)?
Apple CEO Tim Cook is expected to announce new features for Apple platforms at WWDC. (Getty Images/Getty Images)
Other notable announcements at WWDC include the iPhone 16’s AI capabilities, which Wedbush analysts believe will “spur a massive upgrade cycle by 2025,” as well as the inclusion of AI features in iOS 18 and Apple’s new in-house chips.
“Simply put, WDC is a pivotal moment for Apple’s future. Developers are the heart and lungs of Cupertino’s growth story and it will kick off a new, AI-driven chapter in Apple’s growth story for the next few years,” Wedbush analysts wrote, adding that Wall Street will be “laser focused” on Apple’s “biggest event in over a decade.”
Click here to get FOX Business on the go
Apple’s WWDC begins on Monday and ends on Friday in Cupertino, California.
