Drive Ai which is basically a self-driving car company is being acquired by Apple Computers. The startup has been making a lot of autonomous vehicles with the help of their Artificial Intelligence for almost two years. The company has been trying to make money and that is the reason they are now partnering up with Apple so that they can work more on their technology. The market in this sector is very competitive and this is why it was important for Drive Ai to start working with Apple who will be able to fund their ambitious projects.
The San Francisco Chronicle has come out with a report that it was all filed with all the regulators about shutting down the business. The amount of money that Apple spends on buying this new company was still not disclosed. None of the parties have come out and said how much money was exchanged. A spokesperson from Drive Ai came out and said:
“this new partnership for our company will be very helpful for both the companies because Apple will finally invest their money on something new which has the power to change the world and Driver Ai will finally spend some money on developing all the different technologies they are working on.”
The paper has been very open about the entire news and they have revealed that the company has ended up laying off a total of 90 employees. There have been cost cuttings made by the startup and it is expected that the company can make profits under the guidance of Apple with the help of their resources.
There has not been a lot of information about the new Apple’s Project Titan but nothing concrete has come out of these. People have been trying to know more about the project, but Apple has been very silent about the entire project. Apple will be giving all its resources to the company so that they can work on their Artificial Intelligence and come up with the self-driven car technology on their own.
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