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Apple is currently in the concluding phase of acquisition negotiations with Prompt AI, a startup specializing in computer vision. Established in 2023, Prompt AI has honed in on developing intelligent security camera technology. However, the business model for its flagship product has fallen short of anticipated success. Despite securing $5 million in its initial funding round and having its core team field multiple acquisition offers, Prompt AI now stands at a crossroads.
It is anticipated that Prompt AI's technological assets will be seamlessly integrated into Apple's HomeKit smart home ecosystem. This strategic, small-scale acquisition is in line with Apple's cautious approach to mergers and acquisitions. Given Apple's comparatively sluggish progress in the AI sector, its stock price has experienced a cumulative decline of 2% so far this year.
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