Apple has made a strategic acquisition by purchasing WaveOne, a startup that specializes in artificial intelligence (AI) algorithms for compressing video. Although the deal has not been confirmed by Apple, a WaveOne executive announced the acquisition on LinkedIn.
The startup was focused on developing the next generation of compression for digital media, using advanced machine learning and deep learning to create custom-tailored, context-dependent solutions. WaveOne’s primary innovation was content-aware video compression and decompression, which could run on AI accelerators built into many phones.
Apple recognized the potential of WaveOne’s technology and took the opportunity to add it to its portfolio. The acquisition is a significant move for Apple in the artificial intelligence space, as it demonstrates the company’s continued investment in AI technology and its commitment to staying ahead of its competitors.
The incorporation of WaveOne’s technology into Apple’s products has the potential to significantly improve video compression and storage, which would be a major benefit for Apple’s users. The technology could be integrated into iCloud and Photos storage management, streaming video, and more.
WaveOne had between two and 10 employees at the time of the acquisition, and had raised $9 million in funding. Some of the startup’s employees are now working on machine learning teams at Apple. It is customary for Apple to take down a company’s website following an acquisition, and WaveOne’s website was taken offline in January.
Overall, Apple’s acquisition of WaveOne is a promising move in the AI space, and it seems that we can expect to see a new ‘wave’ of innovative AI technologies from the tech giant as a result.