Apple jumps after report on AI push, Alphabet and Microsoft slip

Shares of Apple (AAPL) are rising in Wednesday afternoon trading after Mark Gurman of Bloomberg reported that the tech giant is quietly working on artificial intelligence tools that could challenge OpenAI, while adding that the company has yet to devise a clear strategy for releasing the technology to consumers. Apple has built its own framework to create large language models, people with knowledge of the efforts told Bloomberg. With that foundation, known as “Ajax,” Apple also has created a chatbot service that some engineers call “Apple GPT,” the sources added. The artificial intelligence push has become a major effort for Apple in recent months, with several teams collaborating on the project, said the people. Shares of Apple are up about 2% to $197.29 following the report, while shares of Microsoft (MSFT) and Google parent Alphabet (GOOGL) have each moved lower.