Apple shares slide after big Siri AI reveal

Source Domain: www.cnbc.com

Apple shares dropped 3% following the announcement of new AI software at their Worldwide Developers Conference.
Apple introduced Apple Intelligence, AI frameworks for app developers on iPhones and Macs, and a new version of Siri called Siri AI.
The company is utilizing a cloud AI model with assistance from Google and Nvidia, but no release date for Siri AI was provided.
Analysts generally praised the announcements but expressed concerns over the lack of a short-term stock boost.
Apple plans to monetize AI features through rate limits and subscriptions in iCloud+ plans.
AI features will face delays in China and Europe due to regulatory issues and will initially launch only in English.
There is skepticism among analysts about whether Apple Intelligence will significantly boost iPhone sales.

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