Amid Rumors of a Deal With Rivian, Apple Acquired This Artificial Intelligence (AI) Start-Up Instead

From time to time, companies pursue mergers or acquisitions to help fund growth. These deals can help source product innovation or spearhead entering a new market.

One company that has historically chosen to build in-house over pursuing acquisitions is (NASDAQ: AAPL). Most of the company's deals have been under-the-radar transactions, with very few making the headlines.

But earlier this month news broke that Apple was abandoning its ambitions in electric vehicles (EV). Shortly thereafter, rumors started to spread that Apple might be interested in acquiring Rivian. While this was an intriguing postulation, I see it as unlikely.

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Source Fool.com