Apple paid nearly $2 billion for a startup with no public product. Here’s what its earliest investors saw first.
Source: Shabbir - stock.adobe.com
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Editor’s Note: My colleague Luke Lango studies where the AI boom is going next – and which young companies are building technologies the Big Tech giants may eventually decide they need.
Today, he’s looking at one of Apple’s largest recent acquisitions: Q.ai, an obscure AI startup reportedly purchased for nearly $2 billion despite having no sales or publicly available product. Luke believes the deal offers investors an important lesson about how enormous gains can be created before a company ever reaches the stock market.
