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- Apple's hefty research spending is partly fueled by generative AI, according to CEO Tim Cook.
- The company's research and development spending has hit $22.61 billion for the year so far.
- The tech giant has been notably quiet on AI in contrast to some of its main competitors.
Apple's hefty research spending may have been boosted by the current AI boom.
The company's research and development spending hit $22.61 billion for the year so far, a figure that's $3.12 billion higher than this time last year, its third quarter earnings showed. CEO Tim Cook said some of this budget was driven by Apple's work on generative AI.