Apple made a big announcement at the WWDC24 event, introducing its new artificial intelligence service called ‘Apple Intelligence’. This news caused a sudden drop in the price of Render (RNDR), an altcoin focused on artificial intelligence.
The newly unveiled Apple Intelligence service will allow users of iPhone, iPad, and Mac devices to understand and generate language and images. Render Token (RNDR) gained attention when Apple briefly mentioned Octane, a 3D design software powered by Render Network, during its presentation on the M4 chip in the latest iPad.
In early 2024, Apple Insider reported that investment bank Morgan Stanley believed Apple would benefit greatly from the mainstream adoption of AI. The bank’s analysts pointed out Apple’s advancements in Edge AI, such as the improved AI-powered Siri 2.0 and a more extensive AI-enabled operating system.
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