Apple acquires Q.ai for a reported $2 billion

Apple has acquired Israel-based startup Q.ai, a move that could provide a much-needed boost to the tech giant's capabilities in artificial intelligence. Although Apple has not disclosed terms of the deal, sources told Financial Times that the arrangement is reportedly valued at nearly $2 billion. If that figure is accurate, the Q.ai acquisition marks Apple's second largest acquisition to date, followed by its purchase of Beats for $3 billion back in 2014.

Johny Srouji, Apple’s senior vice president of hardware technologies, said in a statement that Q.ai "is a remarkable company that is pioneering new and creative ways to use imaging and machine learning." Apple hasn't shared any specifics about how it plans to leverage the startup, but its past work indicates the possibility of Apple moving deeper into AI-powered wearables. "Patents filed by Q.ai show its technology being used ...