Apple is cautiously ramping up its focus on artificial intelligence while maintaining its privacy-first approach. Capital expenditures are rising to $18.1–$18.5 billion, mainly for AI research and development. CFO Kevan Parekh and CEO Tim Cook emphasized that Apple will continue investing and remains open to potential acquisitions, though high valuations of many AI companies could pose challenges.
Despite growing competition and staff departures in its AI team, Apple remains “on track” to launch the revamped Siri in 2026, possibly in the spring. Cook declined to comment on potential shifts in iPhone search traffic, although Apple’s advertising business reportedly hit record levels.