Tim Cook Says Apple Is Now ‘Open to’ Big AI Acquisitions

Apple may be rethinking one of its oldest playbooks. Historically known for acquiring small startups under the radar, the company now appears open to a different approach, especially when it comes to artificial intelligence.

In comments made during Apple’s Q3 2025 earnings call, CEO Tim Cook told CNBC that Apple is no longer ruling out large-scale acquisitions. If a deal can meaningfully accelerate Apple’s AI ambitions, he said, the company is willing to go bigger than it ever has before.

AI Pressure Is Mounting

The shift in tone highlights the urgency Apple faces as it races to close the gap with AI leaders like OpenAI, Google, and Meta. Its new Apple Intelligence features, revealed at WWDC in June, are rolling out slowly, and Siri’s long-awaited generative AI upgrade isn’t expected until 2026.

Internally, some of Apple’s top AI talent has already defected to Meta. Externally, investors are watching competitors integrate AI across hardware and software ecosystems at a pace Apple has yet to match.

While Apple is boosting its own AI spending, Cook noted that capital expenditures are rising quarter over quarter due to AI investment, and building a fully in-house solution is a time-intensive process. And right now, Apple doesn’t have years to spare.

Election-year trade tensions add another wrinkle. With renewed tariff threats from former President Donald Trump, the cost of making iPhones could rise sharply. That could force Apple to increase hardware prices heading into the iPhone 17 cycle, adding further pressure to diversify its growth strategy.

Eyes on Perplexity AI

Cook’s new openness to acquisitions has reignited speculation about Perplexity AI, an AI-powered search startup that’s become one of the most talked-about names in Silicon Valley. Bloomberg previously reported that Apple held internal talks about acquiring Perplexity, which is currently valued at around $18 billion.

If that deal were to happen, it would eclipse Apple’s 2014 Beats acquisition by a wide margin. Historically, Apple has steered clear of multi-billion-dollar takeovers, but Cook’s remarks suggest the usual playbook may no longer apply.

That said, no deal has been confirmed, and Perplexity may still be a long shot. But the fact that Apple is even entertaining the idea of such a large buyout shows how seriously it’s taking its AI shortfall.

Cook’s Comments Widen the Door

When asked directly about Apple’s M&A strategy, Cook didn’t hedge:

“We’re very open to M&A that accelerates our roadmap. We’re not stuck on a certain size company. We basically ask ourselves whether a company can help us accelerate a roadmap. If they do, then we are interested.”

Coming from Apple, that’s a rare moment of directness. While no formal acquisition plans were announced, the message was unmistakable: the company is finally willing to spend big if the technology can justify the price.

If Apple does go forward with a landmark acquisition, this could end up being the moment where the company quietly signaled its next move.