Apple buys AI-driven video compression startup WaveOne By CIOTechOutlook Team

Apple buys AI-driven video compression startup WaveOne

CIOTechOutlook Team | Tuesday, 28 March 2023, 06:27 IST

WaveOne, a California-based business that creates AI algorithms for video compression, has been quietly bought by Apple.

Although Apple did not publicly disclose the acquisition, WaveOne's former head of sales and business development Bob Stankosh wrote about it on LinkedIn.

"After almost two years at WaveOne, last week we finalised the sale of the company to Apple," Stankosh posted.

"We started our journey at WaveOne, realising that machine learning/deep learning video technology could potentially change the world. Apple saw this potential and took the opportunity to add it to their technology portfolio," he added.

He expressed his gratitude to the co-founders Lubomir Bourdev and Oren Rippel as well as Craig Lytle for their assistance in commercialising the concept and bringing it to market.

By utilising the startup's AI-powered technology, faces might be given priority by being made to "understand" video frames.

Apple can deliver more effective streaming on its services, like Apple TV+, with the aid of the AI-powered video codec.

WaveOne used the most recent developments in machine learning and deep learning to deliver innovative and revolutionary solutions and services to platforms for social, business, and digital media.

The startup is in charge of deep neural networks (DNN) and machine learning-based cloud-based AI native video solutions.