Mark Zuckerberg's Meta has reportedly poached one of Apple's top artificial intelligence researchers as part of its ongoing hiring spree.
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) has hired Apple Inc (NASDAQ:AAPL, ETR:APC) head of AI models, Ruoming Pang, to lead its newly formed superintelligence unit, Bloomberg reported on Monday, in the latest sign of intensifying competition among Big Tech firms for top artificial intelligence talent. Pang, who led Apple's 100-person foundation models team responsible for the company's Apple Intelligence and Siri features, is reportedly joining Meta in a deal valued at tens of millions of dollars per year.
Apple (AAPL) has reportedly lost its top executive in charge of artificial models to Meta Platforms (META), as the Facebook parent continues to build up its new “Superintelligence” AI division.
Apple's manager for artificial intelligence (AI) models is reportedly leaving for Meta. [contact-form-7] That's according to a report late Monday (July 7) by Bloomberg News, which notes that this departure is another setback for Apple's AI project.
The chip maker's shares have been rallying since late April, putting its valuation on the brink of an all-time high.
Apple (AAPL -1.76%) is one of the most valuable companies in the world, with a market cap of $3.17 trillion. But the stock is down 15% since the beginning of the year (as of July 7).
Mark Zuckerberg wooed another elite researcher with pay package in the tens of millions, continuing a recruitment push.
Apple's head of AI models, Ruoming Pang, is leaving the company to work at Meta, Bloomberg reported on Monday. This marks the latest high-ranking AI executive Meta CEO Mark Zuckerberg has scooped up to lead his new AI superintelligence unit.
Apple (AAPL) closed at $209.95 in the latest trading session, marking a -1.69% move from the prior day.
The outburst intensified pressure by the Trump administration for Apple to bring back manufacturing to the United States.
Apple Inc (NASDAQ:AAPL, ETR:APC) has filed an appeal against a €500 million (US$586 million) fine imposed by the European Union for allegedly violating the Digital Markets Act (DMA), escalating a major dispute between the iPhone maker and EU regulators over competition in the app space. The European Commission issued the fine in April, then stating that Apple's restrictions on app developers prevented them from informing users about alternative and potentially cheaper purchasing options outside of the App Store.
Apple's "F1: The Movie" has generated more than $293 million at the global box office, the most of any film released theatrically by the company. "F1" has generated $60 million of its total global haul from IMAX theaters, a little more than 20% of its total gross so far.