Google, Apple snapping up startups to boost cloud, AI tech

Even as government and regulatory agencies crack down on big tech for alleged antitrust violations, Google, Apple and their peers continue to expand their corporate footprints by acquiring small technology startups, Pitchbook reports.

Most recently, Apple purchased Xnor.ai on Jan. 15 for a reported $200 million. The latter spun out from Microsoft co-founder Paul Allen's Allen Institute for Artificial Intelligence and creates high-powered AI algorithms that require only minimal local power.

Earlier this week, Google purchased both Pointy, a retail tech startup, for a reported $164 million and AppSheet, a no-code development platform for cloud applications, for an undisclosed amount.

In all, according to Pitchbook, Apple, Alphabet, Amazon and Facebook have collectively made more than one dozen acquisitions since October, despite growing concerns over their alleged anti-competitive behavior.

Read more here.

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