Apple's Project Titan is Out, Generative AI is In

Apple is investing in Generative AI in 2024 like they will own the space.

Hey Everyone,

After a decade of work, the company is reportedly giving up on its ambitious effort to create an autonomous electric car.

So big picture one of the most important news items in tech is how Apple is finally moving ahead with its EV smart car project Titan. Presumably this is to investment more in Generative AI. Apple is the richest company in the world.

Apple has halted its long-rumored “Project Titan” work on developing an electric car with self-driving capabilities. It was going to be the ultimate smart car, instead we have this.

By BYD.

Apple cash on hand for the quarter ending December 31, 2023 was $73.100B, a 42.34% increase year-over-year. What can you do with 70 Billion? It’s not all about the Vision Pro.

Apple CEO Tim Cook said his company “investing significantly” in artificial intelligence, and he teased a major announcement later this year. Apple is rumored to be able to put Generative AI on its devices on the edge, with major upgrades to iOS and starting to build a more Generative AI native Operating System.

Considering that Apple have over 2 Billion devices active in the world and a thriving Apple Services ecosystem, they have incredible leverage here.

Considering demand for EVs is at an all-time low in North America, and Project Titan was far harder than they thought, in a low-margin business that China and BYD is owning, Apple made the right decision. I mean they could acquire Rivian in the future if they wanted, but that’s another story.

Competing with Tesla is not going to work out for Apple, because Tesla cannot even compete with China very well in the 2025 to 2030 period.

However the competitive threat from Generative AI is relatively high with Microsoft, Google, Meta, Amazon and OpenAI evolving fast with the technology.