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Apple has recently acquired WaveOne, a California-based startup that develops AI algorithms for video compression. WaveOne’s former head of sales and business development, Bob Stankosh, posted on LinkedIn about the sale of the startup to iPhone maker. The startup is behind Cloud-based AI Native video solutions which utilise machine learning and deep neural network (DNN) technology. Co-founders Lubomir Bourdev and Oren Rippel, as well as Craig Lytle, were thanked for helping to bring the idea to market and advancing this concept for commercial applications.