Apple and Google formally announce the redesign of Siri

The long-awaited Siri update, which is anticipated later this year, and Apple's fundamental AI models will both be powered by Gemini thanks to a multi-year cooperation recently revealed by Apple and Google.

The specifics:

In a joint statement, the two tech behemoths confirmed the agreement, with Apple stating that Gemini "provides the most capable foundation" for its artificial intelligence.

When Bloomberg originally revealed the possible agreement in November, it stated that Apple would license Google's technology for about $1 billion a year.

Apple confirmed to CNBC that its ChatGPT agreement is still in place and that its AI features will still function both on-device and through Private Cloud Compute.

With the news, Google's market capitalization momentarily surpassed $4 trillion for the first time, now following just Nvidia, Microsoft, and Apple.

Apple is finally (officially) choosing a path after a year of speculation over Siri's future, and that path involves contracting out Siri's AI issues to a significant rival. In addition to validating Google's enormous Gemini ascent, the collaboration with OpenAI is a little problematic because Siri's brain is powered by its largest competition.