Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

Apple Reportedly Said No To Meta's Offer For iPhone AI Integration Due To Privacy Policy Concerns

Author: Ananya Gairola | June 24, 2024 09:58pm

Apple Inc. (NASDAQ:AAPL) has reportedly rejected a proposal from Meta Platforms Inc. (NASDAQ:META) to integrate its AI chatbot, Llama, into the iPhone.

What Happened: Despite preliminary discussions in March, Apple and Meta are not currently in talks about a potential AI partnership involving Llama. Apple has decided not to proceed with the integration, partially because they didn’t think Meta’s privacy practices are stringent enough, reported Bloomberg, citing people with knowledge of the matter.

The discussions took place around the time Apple began negotiating deals to incorporate Microsoft Corporation (NASDAQ:MSFT) -backed OpenAI's ChatGPT and Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Gemini into its products.

See Also: Nvidia CEO Jensen Huang Recalls Billions Of Dollars Of Investments In Deep Learning And The Philosophy Behind It: ‘If We Don’t Build It, They Can’t Come’

Earlier this month, Apple announced the ChatGPT agreement and indicated that it plans to offer Gemini in the future. The tech giant is also reportedly in discussions with AI startup Anthropic about potentially adding its chatbot as an option.

Apple and Meta did not immediately respond to Benzinga’s request for comments.

The Tim Cook-led company’s new AI technology, Apple Intelligence, is set to roll out later this year as part of operating systems for the iPhone, iPad, and Mac. It includes features such as in-house tools for summarizing notifications, transcribing voice memos, and creating custom emojis.

However, Apple’s chatbot technology reportedly lags behind its competitors, leading the company to seek partnerships. The tech giant anticipates that customers will desire the flexibility to switch between different chatbots based on their needs, similar to how they might alternate between Google and Microsoft’s Bing for searches.

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Why It Matters: On Monday, Meta’s shares were trading higher following rumors of a potential AI partnership with Apple. The report by WSJ suggested that Meta was considering integrating its generative AI Platform into Apple Intelligence, Apple’s new AI system for iPhones.

Apple is also expected to explore partnerships with AI companies in various regions, such as China, where ChatGPT is banned.

A decade ago, Meta and Apple had a more amicable relationship, with the iPhone maker integrating Facebook into iOS. However, in recent years, the companies have become fierce rivals, competing in areas such as AI, home devices, and mixed-reality headsets, the report noted.

Check out more of Benzinga's Consumer Tech coverage by following this link.

Read Next: How To Take The Perfect Moon Shot Using An iPhone 15

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Posted In: AAPL GOOG GOOGL META MSFT