Apple Chief Executive Officer Tim Cook said the company will “significantly” increase spending on artificial intelligence after heavier outlays in the June quarter and further growth planned for the September period. Speaking on Apple’s fiscal third-quarter earnings call, Cook called AI “one of the most profound technologies of our lifetime” and confirmed the company is reallocating staff to accelerate development of new features across its hardware and software platforms. Cook added that Apple remains “very open” to mergers and acquisitions that can speed its AI roadmap and is “not stuck on the size” of potential targets. The iPhone maker has already bought about seven companies this year, none large in dollar terms, and still holds roughly $133 billion in cash. Capital spending climbed to $3.46 billion last quarter, which Chief Financial Officer Kevan Parekh said was driven largely by AI-related infrastructure, including servers based on Apple silicon. The comments came as Apple reported revenue of about $94 billion for the three months ended June, a 10% increase from a year earlier, helped by stronger iPhone, Mac and services sales. Cook said the company is making “good progress” on a more personalized version of Siri and expects to introduce the features next year, underscoring Apple’s bid to close the gap with rivals that have poured tens of billions of dollars into generative-AI systems.