Apple acquires AI-linked video start up WaveOne
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Apple (NASDAQ:AAPL) has acquired WaveOne, a video startup that was working on artificial intelligence algorithms used to compress video.
In a LinkedIn post from last month, WaveOne's former head of sales and business development Bob Stankosh, said the company was using machine learning and deep learning technology that "could potentially change the world."

Terms of the deal, which was first reported by TechCrunch, were not disclosed.
Apple (AAPL) did not immediately respond to a request for comment from Seeking Alpha.
WaveOne was founded in 2016 with the mission of turning video codes and integrating AI into them. The company's methods of video compression reportedly could reduce the size of files by as much as half.
Apple (AAPL) shares were fractionally higher in early trading on Monday.
KeyBanc Capital Markets recently said its proprietary data showed February spending on Apple (AAPL) products and services was above the three-year average.