WaveOne AI-powered video compression startup acquired by Apple
WaveOne has confirmed that the tech startup has been acquired by Apple.
With Apple’s dominance and influence in the tech space, it's always fascinating to monitor the company’s business moves, especially when it comes to new innovations in that field. AI has been quite topical since the breakout success of ChatGPT last year, and many have wondered if and how the world’s biggest company would adapt similar technology. Now, Apple has acquired WaveOne, and AI-powered video compression software.
The news of Apple’s acquisition of WaveOne was confirmed in a statement by the acquiree itself. As TechCrunch reported, former Head of Sales and Business Development Bob Stankosh announced the news in a LinkedIn post back in February.
WaveOne was founded back in 2016, and its service revolves around compressing videos to smaller file sizes, without any compromises in quality. This is done through machine learning, and the company has steadily improved its software over the last several years.
It’s unclear how Apple plans to implement WaveOne’s video compression software into its existing services. In fact, it hasn’t even publicly acknowledged the acquisition. The LinkedIn announcement also neglects to share how much Apple paid to acquire waveOne, which is another key detail we’ll be on the lookout for. Regardless, it’s fascinating to see Apple further its interest in AI technology, even if it’s not another AI chatbot. We’ll be watching closely to see if the company makes any more moves in that space, and you can expect to read more stories about how tech giants are adopting artificial intelligence right here on Shacknews.
Donovan Erskine posted a new article, WaveOne AI-powered video compression startup acquired by Apple