Key Points

Apple introduced its updated Siri during the yearly developer gathering this week.
The conversational chatbot, backed by a tie-up with the Gemini LLM, handles tasks beyond typical LLM functions because it links across a user's devices and accounts.
That gives its 2.5 billion user base free, advanced AI services.
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Apple's (NASDAQ: AAPL) Worldwide Developers Conference (WWDC) serves as an annual tech showcase for developers, allowing them to explore fresh technologies and designs. It is where Apple typically reveals its newest upgrades and products, with some years delivering more than others.

The event has grown so tied to Apple's role in technology that its stock often moves after the gathering based on what gets released. Over the past two years, investors have awaited major artificial intelligence (AI) advances from Apple's Apple Intelligence, yet results have fallen short, leading to stock declines.

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Image source: Apple.

Still, this year's changes may bring tougher times for OpenAI and Anthropic than for Apple itself. Here is why it could affect them, and why Alphabet may benefit instead.

Siri AI

The highlight of this year's WWDC was clearly the refreshed Siri, or Siri AI. Apple has spent two years preparing an AI-driven Siri amid several postponements, but the new design and tools are now set for release.

Time will show if users embrace them, yet Apple highlights their advanced features. In certain aspects, they resemble any standard large language model (LLM) such as OpenAI's ChatGPT or Anthropic's Claude. Siri acts as a conversational chatbot that responds to queries and offers various agentic AI functions, including checking messages and editing images.

Its distinction lies in its strengths. It stays active and reachable on an iPhone via a downward swipe, yet it also features a standalone app for ongoing chats. Apple prioritizes user privacy, so Siri can tap into Apple-linked accounts and devices for help. For instance, Apple notes that "users can ask Siri to locate a restaurant suggestion a friend texted about, display a hotel confirmation from an old email, or retrieve photos with friends and family from a recent trip."

Is it ever enough?

The market viewed these changes as average, shown by a 5% stock dip. Yet the same reaction occurred last year, and Apple stock has risen 45% since, while the S&P 500 has climbed 25%.

It may prove more difficult for firms like OpenAI and Anthropic, which earn from premium LLM subscriptions. These features come built into Apple products with Apple Intelligence at no extra cost.

Apple counts 2.5 billion active devices, granting its AI reach to a huge audience. As this group adopts Siri AI, it may reduce reliance on other LLMs. Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) gains notice as it works with Apple to supply its Gemini LLM as the base for Apple Intelligence. Apple's delivery of these services to device users relies on a $1 billion yearly fee to Alphabet.

Anthropic focuses on commercial clients with a business-to-business approach, while OpenAI targets a wider audience, though both firms ready for public listings amid shifting conditions.

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Jennifer Saibil has positions in Apple. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.