(NASDAQ: AAPL), often celebrated for its sleek devices and robust ecosystem, might just be the most underrated player in the artificial intelligence (AI) space. Overshadowed by the AI initiatives of Microsoft and Alphabet, Apple has the potential to surprise investors with its own tech that it is reportedly working on. Here's a closer look at why investors shouldn't count out the stock as a potential AI play.

ChatGPT and Bard are the big mainstream chatbots that consumers and investors are likely familiar with today. But AI is still in its early innings, and Apple plans to be a big player in the generative AI space. The company is reportedly working on Apple GPT, its answer to the current chatbots.

Knowing that it is behind its rivals, Apple is also willing to spend big to catch up and bridge the gap. A report from Bloomberg indicates that Apple plans to spend as much as $1 billion per year in its development of generative AI.

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Source Fool.com