At the beginning of this year an agreement between Apple and Google became visible that points straight to the heart of Apple Intelligence and to the future evolution of Siri towards a more personalized experience. Now, most of the details of the pact remain in the shadows, from its specific conditions to its economic impact for both companies. This imbalance between what is announced and what is explained may be insufficient for some actors, such as investors of both companies.
Where the agreement appears says as much as it counts. Public formalization, let us remember, materializes in a statement presented as a wholealthough its visible trace is found only in Google’s information channels. In Apple equivalent spaces There is no parallel piece that replicates that advertisement. This asymmetry does not alter the existence of the agreement, but it makes it clear that the public access point is concentrated in a single showcase.
The question that puts the agreement in the foreground. In the last conference with Alphabet investorsWells Fargo analyst Ken Gawrelski asked directly about the relationship with Apple. His intervention did not focus only on the monetization of search with AI, but on a very specific point: how these types of agreements with partners are aligned when the value can increasingly depend on the utility within the platform itself and not so much on the traditional business of clicks. In that logic he included “Apple’s new partnership with Siri.”
A carefully constructed escape. The person who responded on behalf of Alphabet was Philipp SchindlerSVP and chief commercial officer at Google, and did so by shifting the conversation toward the search engine’s overall performance and the growing role of AI in its monetization. The speech addressed topics such as AI Overviews either AI Modewith references to Gemini’s impact on that ecosystem. But, curiously, he did not stop at the specific collaboration with Apple nor did he answer a specific part related to how to align incentives in that direction. The question received a formal answer, but no clarification on the agreement itself.
Cook’s ‘tactical’ response. At the conference with Apple investorsTim Cook offered a more direct answer when asked about the collaboration with Google and defended its technological logic by stating that the company’s AI provides “the most capable basis for Apple Foundation Models”, which will allow “unlocking many experiences and innovating in key ways thanks to collaboration.” The CEO further insisted that Apple will keep on-device processing and in its private computing environment as pillars of its privacy approach. But this greater clarity did not extend to the terms of the pact, about which he was blunt: “we will not reveal details of the agreement.”
When those who put money in want answers. As we can see, presentations of financial results offer another type of window, very different from traditional corporate communication. In these calls with investors and analysts, it is common for nuances to emerge that do not appear in the statements, especially when agreements with potential impact on product, strategy or income are at stake. Therefore, beyond what is officially published, this type of meeting becomes a key area to verify how far companies are willing to go in their public explanations.
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