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Apple: rumors of an agreement with OpenAI, the stock advances

( - Apple's share price advanced on the New York Stock Exchange on Monday, following press reports of an imminent agreement with OpenAI, the artificial intelligence (AI) company behind the ChatGPT conversational robot.

According to these rumors, AI functionalities developed by OpenAI could be integrated into iOS 18, the next version of Apple's operating system, as well as the future iPhone 16, due for launch in September.

According to Wedbush analysts, who believe the collaboration agreement could be unveiled during WWDC on June 10, OpenAI would be tasked with designing a proprietary 'chatbot' based on Apple's own large language models (LLMs) and processors.

"The signing of a partnership with OpenAI would open up a myriad of avenues and revenue opportunities in the services field", the research firm points out.

"We expect Apple to offer a next-generation version of its Siri assistant thanks to OpenAI that would be capable of performing complex tasks for users, as well as even more advanced functionalities that could possibly be the subject of a separate monthly subscription service, alongside other AI-related benefits", it continues.

Following this news, Apple shares rose by 1.2% on Monday morning on Wall Street.

Alphabet shares fell by 2%, on the other hand, as investors had previously believed that Google was in a good position to integrate Gemini, its generative AI technology, into the iPhone ecosystem.

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