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Rani Molla

Google rises on report Apple is considering using Gemini AI to power Siri

Another day, another AI model Apple is considering to power its next generation of Siri. Today, Bloomberg reports that Apple is in early discussions with Google to use Gemini for that purpose.

Both companies’ stocks turned even higher on the news during an already green day for them and the broader market.

Earlier this summer, Bloomberg reported that Apple was considering Anthropic and OpenAI as well.

“Apple is still several weeks away from making a decision on whether to continue using internal models for Siri or move to a partner,” according to Bloomberg.

Last year, Apple attempted to use in-house models in combination with ChatGPT to create an AI Siri — a move that’s mostly been a flop. Analysts including Wedbush Securities’ Dan Ives have been encouraging Apple to look beyond Cupertino for AI innovation.

Earlier this summer, Bloomberg reported that Apple was considering Anthropic and OpenAI as well.

“Apple is still several weeks away from making a decision on whether to continue using internal models for Siri or move to a partner,” according to Bloomberg.

Last year, Apple attempted to use in-house models in combination with ChatGPT to create an AI Siri — a move that’s mostly been a flop. Analysts including Wedbush Securities’ Dan Ives have been encouraging Apple to look beyond Cupertino for AI innovation.

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Apple Store in China

Apple reports Q4 earnings and revenue slightly above Wall Street estimates

The iPhone maker reported its FY 25 fourth-quarter earnings Thursday.

#10

Tesla just recalled its beleaguered Cybertruck for the 10th time since the vehicle was introduced two years ago. This time the company recalled about 6,000 of the “apocalypse-proof” vehicles due to what the National Highway Traffic Safety Administration says is an improperly installed “optional off-road light bar accessory” that could become disconnected from the windshield while driving, and could “create a road hazard for following motorists and increase their risk of a collision.”

CEO Elon Musk once said he could sell up to 500,000 of the stainless steel behemoths a year. In the first three quarters of this year, the company has sold only about 16,000.

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Analysts lower Meta price targets after social media giant says AI capex will keep climbing

Meta may have posted record revenue Wednesday but the stock is deeply in the red in the wake of its third-quarter earnings report, after the social media company said that its capital expenditure on AI would continue to rise.

The earnings prompted a number of analysts to lower their price targets or downgrade the stock.

RBC Capital lowered its price target to $810 from $840. Bank of America Securities lowered its price target to $810 from $900. Barclays, JPMorgan, Deutsche Bank, and Wells Fargo also lowered their price targets on the company.

Earlier today, Benchmark downgraded its rating to a “hold” from a “buy.” Oppenheimer downgraded the company to “perform” from “outperform,” saying the “significant investment in Superintelligence despite unknown revenue opportunity mirrors 2021/2022 Metaverse spending.” Ouch.

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