While tech giants invest billions in AI, executives are quietly sitting on their hands and a mountain of cash. Given the massive growth in AI investments, as shown in the graphs below, executives of leading companies at the forefront of AI development must be ecstatic about the prospect of AI significantly boosting their bottom lines.

The puzzling question, however, is why Apple isn’t following suit. Or could they be taking a different approach to winning the AI arms race?

Apple Avoids The AI Spending Boom

Apple is one of the world’s most profitable companies. Over the last four quarters, they reported over $400 billion in annual revenue and nearly $100 billion of free cash flow. Furthermore, the company holds $65 billion in cash…