Investments in generative AI leads to rising costs for Apple, Tim Cook says 'we're investing a lot'
reality headset - is yet to get into the hands of customers. Apple has seen its research and development spending go to $22.61 billion in the current fiscal year which is around $3.12 billion more than the last year combined.
The increase in R&D spending has been linked to work on generative AI technology by the company, Reuters reported quoting Apple CEO Tim Cook. "We've been doing research across a wide range of AI technologies, including generative AI, for years.
We're going to continue investing and innovating and responsibly advancing our products with these technologies to help enrich people's lives," Tim Cook told Reuters. "Obviously, we're investing a lot, and it is showing up in the R&D spending that you're looking at." the Apple CEO added.
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