Apple recently acquired Israel-based startup Q.ai in a bid to accelerate its artificial intelligence efforts. While the company did not disclose the terms of the deal, reports indicate that the arrangement is valued at nearly $2 billion. If the figure is correct, the Q.ai purchase is Apple's second-largest acquisition to date, following the Beats purchase in 2014 for $3 billion.
It's unclear how Apple plans to leverage Q.ai, but the company's past work suggests Apple is doubling down on AI-powered wearables. Q.ai CEO Aviad Maizels and the other founding members of the company will join Apple as part of the deal.