WaveOne, a start-up dedicated to developing AI algorithms for video compression, is owned by Apple.

CTOnews.com March 28 news, according to TechCrunch reported that Apple recently acquired California startup WaveOne, which is committed to developing video compression AI algorithms.

Apple did not confirm the acquisition, but Bob Stankosh, a former WaveOne executive, said earlier this year that "the company has been acquired by Apple." In addition, the report notes that WaveOne's website went offline around January, and several employees of the company now work on Apple's various machine learning teams.

According to CTOnews.com, WaveOne's technology can use artificial intelligence to perform scene and object detection on video frames, enabling "content-aware" video compression and decompression algorithms to reduce the size of video files. For example, it can prioritize preserving faces at the expense of other elements in the scene to save bandwidth.

It's unclear how much Apple paid for WaveOne or when the startup's technology might be integrated into Apple's software platform.