Apple chief Tim Cook 'very open' to AI acquisitions
CEO Tim Cook signals openness to large-scale deals to accelerate AI progress, amid strong iPhone sales and rising investment in artificial intelligence.
- Tech
- DPA
- Published Date: 09:21 | 01 August 2025
Apple signalled on Thursday that it is open to large-scale acquisitions to accelerate progress in artificial intelligence (AI), after delaying the launch of a revamped Siri assistant powered by AI to next year.
"We're very open to M&A [Mergers and Acquisitions] that accelerates our roadmap," chief executive Tim Cook said during an earnings call, adding that while Apple has mostly acquired smaller firms, it is "not stuck on a certain size."
There was nothing to announce at present, he noted, but said Apple is "significantly growing" its investment in AI.
The move comes as rivals like Google rush to embed their AI systems — such as Gemini — deep into Android smartphones, including those made by Apple's key competitor Samsung.
Cook's remarks followed Apple's fiscal third-quarter results, which showed a sharp rise in profits driven by strong iPhone sales that helped offset the burden of US import tariffs.
The US tech giant reported a net profit of $23.4 billion for the quarter, up from $21.4 billion in the same period last year.
Apple had earlier estimated that tariffs would cost the company around $900 million during the quarter. However, the actual burden was slightly lower at $800 million, Cook said.
For the current quarter, Apple now expects tariff-related costs of $1.1 billion.
Revenue rose 10% year-on-year to around $94 billion, with Cook noting in an interview with US broadcaster CNBC that around one percentage point of the increase was driven by advance purchases ahead of expected tariff hikes.
The iPhone business remained the company's key driver, growing by 13% to just under $44.6 billion - well above analysts' expectations of $40 billion. The iPhone is Apple's most important product by far.
Apple devices are mostly manufactured in Asia, including in China, India, and Vietnam. High tariffs were gradually imposed on imports from these countries. Three months ago, Cook said that around half of the iPhones sold in the United States are now being shipped from India.