'Fast Money' traders react to a report Apple held internal talks about buying AI firm Perplexity.

The release of Open AI's ChatGPT has accelerated the development of artificial intelligence and warnings about its impact on society.

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Apple has reportedly held internal talks about the possibility of acquiring Perplexity, an artificial intelligence firm, according to a Bloomberg report. Meta was also said to have considered a deal with Perplexity but decided against it, opting instead for a partnership with another AI company. 

Perplexity was valued at $14 billion in its most recent funding round, which would make any acquisition by Apple one of its largest to date. The discussions highlight the increasing activity and competition in the AI sector, though there is no confirmation that a deal will occur.

Apple reportedly held internal talks about buying AI firm Perplexity

All right. Welcome back. This is really interesting. There's a news alert on Apple Bloomberg reporting that Apple held internal talks about potentially buying perplexity artificial intelligence earlier today. CBC confirmed that Meta had approached perplexity also about a potential deal decided against it went with scale a I Tim Seymour. I think what's fascinating and maybe perplexity is just shopping itself here. Who knows. And letting reporters know who knows. But Apple has never been a buyer really of anything. They just build it. This would be clearly the biggest deal Apple's ever done. I mean if anything you're selling Google on this news. But I think this is not surprising to hear that they've kicked the tires whether this is a deal they find. Right. Isn't their biggest deal beats at this point. So and all we do is talk about where Apple is not positioned in a so interesting headline. But right. Who hasn't looked. I would be surprised if this deal gets done. But that's what happens when you make bold statements on live TV. I have no idea. Well that's kind of what we do. I mean but Karen my point would be and listen perplexity private company. There's AI competitors. We know I don't think it's we know there's going. You don't need to use A.I. to know there's going to be deal making in this space. There has to be. There's too many providers. Would it would it be bullish for Apple. Would it be neutral for Apple negative for Apple. We have any idea. I'm thinking sort of bullish. I mean so much has been made of Apple not having you know that just so far behind in A.I. It's interesting why we hear this story about perplexity from Meta and then later from Apple. I mean I think the last round of perplexity was done at 14 billion. I'm looking at 14 billion 14 billion to your point. How big how big of a deal for Apple. That'd be way big. What would they pay. What would they pay. If the most if we're going to just what we call this wild speculation on national TV. Yeah. So perplexity is valued at 14 as of December the last funding round. It's more than that now. What would the multiple have to be to buy. How much would Apple pay for a 14 billion valuation company. Twenty five. See this is why we get into whether it's bullish or bearish for Apple because Apple right to the price. But but but Apple could you could pay royalties rates. That was the normal thing. The conversation was was was. Why buy it when you could just why buy it when you could rent it. Pay per use or pay per click or pay for whatever. Because then you could say away with Google. You can control the content. Yeah. And that's assuming they want to control the content. Well BBC just super perplexity alleging you know whatever. Who knows what's right. But who know. But a royalty deal will get doesn't even need approval. Right. So you don't you don't need any regulatory approval the same way that you would need. It sounds like grass or the investment bank are selling Apple. Don't make the deal. I would say I would say don't make the big. We just talk about beats was a three billion dollar acquisition. This is going. The valuation is 14 billion. Is it smart to do right now when you usually either rent it or imitate. They're never innovative. They replicate. They're replicated. And this would be a break from that tradition of replicating. I don't know. It's it's it's they built the iPhone.

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Apple reportedly held internal talks about buying AI firm Perplexity

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