Apple's cautious AI spending wins fans as rivals face heavy scrutiny

APPLE HAS FACED plenty of criticism from Wall Street for not spending as aggressively on artificial intelligence as its Big Tech rivals. But that strategy is suddenly a blessing for the iPhone maker.

- BLOOMBERG

Investors are beginning to scrutinise the huge sums companies like OpenAI, Meta Platforms Inc.and Microsoft Corp. are spending on AI, leading to heavy volatility in what had been some of the year’s biggest momentum plays. As a result, Apple’s position is being reevaluated.