Apple’s AI efforts ‘have struck midnight’ and the only way it can stop getting further behind is acquiring Perplexity, analyst Dan Ives says

• Wedbush Securities’ Dan Ives said Apple needs to acquire the $14 billion startup Perplexity in order to catch up and ultimately prevail in the AI race. While the company has an advantage because of the popularity of its iPhone and other iOS devices, it ultimately needs to look outside instead of building out an AI product in-house, Ives wrote in a Wednesday note. 

Apple is falling behind in the AI race, and the only way it can catch up is by buying the AI startup Perplexity, according to a top analyst.