Apple (AAPL) Stock Gains, Purchases Tuplejump
NEW YORK (TheStreet) — Shares of Apple (AAPL) were increasing in late-afternoon trading on Thursday as the company agreed to purchase Tuplejump, TechCrunch reports, citing sources. Tuplejump is an India-based company that specializes in machine learning technology, or an artificial intelligence capability that enables computers to recognize patterns in data without being explicitly programmed. Terms of the deal were not disclosed. Apple is looking to utilize Tuplejump’s “FiloDB” program, an opensource project that applies machine learning technology to data as it streams in, according to TechCrunch. Apple has purchased several machine learning companies in the past few years. It acquired the Seattle-based company Turi for $200 million in August, and U.K.-based artificial intelligence company Perceptio in 2015. (Apple is held in Jim Cramer’s charitable trust portfolio Action Alerts PLUS. See all of Cramer’s holdings with a free…
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