News Summary

• They are turning into a commodity because they're overfunded by FOMO-driven VCs who don't truly understand the technology limitations that drive real application requirements," he said.In fact, Fadell says the AI craze is highly reminiscent of the rush to fund companies working on self-driving cars over a decade ago.
• Apple may seem to be trailing flashy AI firms like OpenAI, but iPod inventor Tony Fadell thinks the company's slow but steady approach to the technology is the right one.
• But a positive reception from Wall Street analysts sent the stock soaring 7% on Tuesday.Representatives for Apple didn't immediately respond to a request for comment from BI sent outside regular business hours.
• Related stories Fadell left Apple back in 2010 but weighed in with his assessment of the AI industry, which he said was being overtaken by investor hype and frenzy.
• We haven't even seen a self-driving car business work yet either," he said.
• "How many billions were spent on that next big thing before reality set in?!