“The Biggest Loser” was a successful NBC show from 2004 to 2016. In this fascinating race, contestants competed to lose the most weight over a 30-week period. They were weighed at set intervals, and the winner won a cash prize.
The artificial intelligence race has become its own reality TV show, and Apple Inc. (NASDAQ: AAPL) has lost the contest. CEO Tim Cook has failed to launch a state-of-the-art AI product like most of his rivals did. His announcement yesterday reveals this.
Apple Inc. (NASDAQ: AAPL) CEO Tim Cook has failed to launch a state-of-the-art AI product like most of his rivals did.
Instead, Apple has chosen to move ahead using Gemini AI software.
A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here.
This week, the tech industry saw a dizzying array of announcements. Meta Platforms Inc. (NASDAQ: META) hired a financial expert as its president and vice chair. She is tasked with building and financing the data centers at the heart of the AI race. Simultaneously, Meta cut about 10% of its Reality Labs staff, a move made without much explanation.
Alphabet Inc. (NASDAQ: GOOGL) became a $4 trillion market cap company, only the second in history to do so. First to reach the level was Nvidia Corp. (NASDAQ: NVDA), which builds the chips that power the entire AI world.
Meanwhile, Microsoft Corp. (NASDAQ: MSFT) executives said China is winning the AI race outside the United States. The company’s president, Brad Smith, fretted that “We have to recognise that right now, unlike a year ago, China has an open-source model, and increasingly more than one, that is competitive.” It is unlikely he made the comment without approval from his boss, CEO Satya Nadella, who has run the tech behemoth for over a decade. Nadella was one of the earliest backers of the AI explosion, investing in OpenAI. That relationship has become contentious.
In addition, somewhat in the background, Amazon.com Inc. (NASDAQ: AMZN) said it had built its own AI chips.
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When Apple launched the iPhone 17 last September, it barely had an AI feature. Cook promised an operating system update in early 2026 to fix that. The market is still waiting. As time passed, Apple’s rivals hired away key AI experts. Finally, Apple ran out of options.
Apple chose to move into the AI business by making a deal with Alphabet to use Gemini AI software. Axios reported, “Apple and Google announced a multi-year deal for Gemini models to power Siri and other Apple Intelligence features. Why it matters: The move fills a clear need for Apple, the tech giant that has struggled the most to deliver on the AI promises it made back in 2024.”
Some AI experts believe Alphabet’s Gemini 3 is a better product than OpenAI’s ChatGPT.
Apple is trapped because it could not move into the AI space without the product of one of its rivals. Now that it has made this deal, it is unlikely to pursue an advanced AI product of its own.
Though Cook has repeatedly said his company would be a leader in AI, Apple is now at the back of the line, behind the world’s most powerful AI firms. When he stood on the stage on September 9 and said Apple’s big AI product was just around the corner, he made a promise Apple could not keep. No matter what else his legacy becomes, that mistake will be at or near the top of the list.
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Most Americans drastically underestimate how much they need to retire and overestimate how prepared they are. But data shows that people with one habit have more than double the savings of those who don’t.
And no, it’s got nothing to do with increasing your income, savings, clipping coupons, or even cutting back on your lifestyle. It’s much more straightforward (and powerful) than any of that. Frankly, it’s shocking more people don’t adopt the habit given how easy it is.