Apple NASDAQ:AAPL stock slipped about 1% after the European Commission disclosed that the company acquired materials science firm PlasmaSolve in April.
PlasmaSolve develops plasma simulation software used to help design and improve manufacturing processes involving plasma technology. The deal adds to a series of smaller acquisitions Apple has completed this year.
Apple also purchased the developer behind the Play app, Rabbit 3 Times, in February and acquired SigScalr in March. The company later bought Final Cut Pro plugin maker MotionVFX, according to the European Commission.
The latest deal comes as Apple continues to explore opportunities in artificial intelligence and chip technology. Earlier this year, reports indicated Apple paid about $2 billion for Israeli AI startup Q.ai, which develops technology for interpreting speech from facial movements.
Apple has also been exploring potential acquisitions involving AI chips, with the company reportedly holding discussions with bankers and semiconductor startups. The activity suggests Apple may be looking to strengthen its technology capabilities through targeted acquisitions as competition in AI hardware intensifies.