Here's Why Apple Paid $50 Million for an AI Video Startup

Apple (NASDAQ: AAPL) has acquired Vilynx, a company focused on using computer vision and artificial intelligence to analyze a video's audio, visual, and related text elements to understand the content, according to a report by Bloomberg. The system then uses the technology to create smart tags, thereby making the video searchable. 

The deal occurred earlier this year and was worth roughly $50 million, according to the report, which cited "people who asked not to be named."

Image source: Getty Images.

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Source Fool.com