AppleInsider Reports on Apple acquiring AI-Powered video compression startup WaveOne

Amber Neely has the news that Apple purchased an AI Video Compression company.

This is of course for iPhones, as the technology is made to cut file sizes in half while prioritizing Faces and Text and de-prioritizing backgrounds.

Better video compression is always to be looked for, but I am assuming this won’t be like ProRES HQ or 4444, but more highly compressed, so likely won’t be a great editing compression.