PYMNTS.com January 1, 2025
Silicon Valley’s artificial intelligence (AI) race transformed the tech industry in 2024, driving Apple toward a $4 trillion valuation and rewiring how tech’s biggest players operate.
Apple’s stock jumped 16% in late 2024 as investors bet on AI-enhanced iPhones. The company’s plans for smarter Siri features and AI-powered photo editing tools sparked interest in the potential of AI for mobile devices. For Apple, which had moved cautiously on AI, this marked a dramatic shift from its traditionally measured approach to new technology. The surge reflected Wall Street’s growing conviction that AI would drive the next wave of consumer electronics spending.
The Battle for AI Hardware
Meta pursued a different vision, announcing AI-powered upgrades to its Ray-Ban smart glasses. CEO Mark...
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