Trends

Apple buys Canadian start-up DarwinAI as it races to add features

AuthorBTW Editorial

Reading Time2 min

PublishedMarch 15, 2024

Primary DomainN/A

Content TypeN/A

TopicN/A

EntityN/A

RegionN/A

Time HorizonN/A

ImpactN/A

ConfidenceN/A

Headline

Context

OUR TAKE He acquisition allows for the visual inspection of parts in the manufacturing process with DarwinAI’s technology and serves customers in a range of industries. Also, it can use its core technology to make AI systems smaller and faster. This work will help Apple focused on running AI on its devices, rather than entirely in the cloud. -Jennifer YU, BTW reporter Apple has acquired Canadian artificial intelligence (AI) start-up DarwinAI, adding technology ahead of a big push into generative AI in 2024.

Evidence

Pending intelligence enrichment.

Analysis

According to the Canadian start-up community Communitech, Waterloo, Ontario-based DarwinAI had raised more than US$15 million as of 2022. It received investments from Honeywell Ventures and Inovia Capital, among other venture capital firms. Apple shares briefly gained on the news, rising more than 1% to US$173.37. With the acquisition of DarwinAI, Apple will “break new ground” in artificial intelligence this year. Also read: Apple to allow users in EU to download apps from third parties Despite having acquired more AI companies than most rivals over the past decade, Apple has fallen behind in the generative AI market. It was caught flat-footed by the launch of OpenAI’s ChatGPT in 2022, and tech peers like Google and Microsoft have stolen the spotlight with new features.

Key Points

One of DarwinAI’s core technologies is making artificial intelligence systems smaller and faster, which could help Apple run AI on devices
Despite having acquired more AI companies than most rivals over the past decade, Apple has fallen behind in the generative AI market