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 working at WaveOne for two years, we finally sold the company to Apple last week, according to a post by Stankosh.
“We began our adventure at WaveOne after realizing that deep learning and machine learning video technologies had the ability to revolutionize the world. Apple recognized this potential and seized the chance to include it in their technological lineup “Added he.
He expressed his gratitude to the co-founders Lubomir Bourdev and Oren Rippel as well as Craig Lytle for their assistance in commercializing the concept and bringing it to market.
By utilizing 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.
