Apple Inc.’s stock has had a rough go of it during the first half of the year. President Trump’s tariffs caused have weighed on the company, as investors continue to gauge what the full cost to its business will be.

A nearly 3-year-old AI startup has reportedly caught the attention of two of the largest and most influential tech companies, underscoring the fierce competition for AI talent and push to become leaders in what some believe will be the next major evolution of the internet.

Heer notes that Gurman’s story didn’t start this rumor; it was preceded by an analyst’s call for Apple to buy Perplexity. Well, technically, the analyst said Apple “must” buy Perplexity, but that’s just analyst talk for saying why Apple “should” or maybe even just “could” buy Perplexity.