According to recent reports, Apple (AAPL) and Google-parent Alphabet (GOOGL) are once again in discussions regarding the integration of the Gemini artificial intelligence model to enhance Apple's Siri voice assistant. This collaboration could lead to a significant upgrade for Siri, which has lagged behind competitors in adopting generative AI technology.
Bloomberg's report indicates that both tech giants are exploring the development of a custom AI model that would serve as the foundation for a revamped version of Siri, expected to launch next year. In a court hearing earlier this year, Alphabet's Chief Executive, Sundar Pichai, expressed the company's eagerness to establish a licensing deal with Apple for the Gemini AI engine.
As anticipation builds, Apple's annual iPhone event is slated for September, where the company is expected to unveil the highly anticipated iPhone 17 models. This event could also provide insights into Apple's strategy regarding Siri and the integration of AI technologies.
Despite rolling out new AI features under the branding of Apple Intelligence last year, user feedback has been less than enthusiastic. The rise of generative AI solutions, particularly in light of competition from OpenAI's ChatGPT, has prompted Google to reevaluate its search results and overall business model.
On the stock market, Google shares experienced a notable increase, rising by 3.2% to close at 208.09, amid a broader market rally. Meanwhile, Apple stock also saw a modest gain, climbing 1.3% to close at 227.76. These movements suggest a positive market sentiment surrounding both companies as they navigate their AI strategies.
In related news, Meta Platforms (META) has reportedly signed a six-year agreement with Google for cloud computing services. This collaboration will allow Meta to utilize Google Cloud for its AI workloads, further emphasizing the growing importance of cloud services in the tech industry.
After a slow start to 2025, Google stock has shown resilience, currently up nearly 9% for the year. The stock boasts an impressive IBD Composite Rating of 95 out of a possible 99, indicating strong overall performance in both fundamental and technical aspects. Furthermore, Google's Accumulation/Distribution Rating stands at B-minus, reflecting trends in buying and selling among large institutional investors.
For real-time updates on artificial intelligence, cybersecurity, and cloud computing, follow Reinhardt Krause on X, formerly known as Twitter, at @reinhardtk_tech.
For those interested in more tech insights, explore how YouTube is evolving into a hub for "all things video" and its impact on Google stock. Whether you want to trade options or keep an eye on companies hitting new buy points, monitor IBD's Breaking Out Today List for actionable information.
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