Apple inks licensing deal with Imagination Technologies

Apple has inked a new supply deal with Imagination Technologies for its graphics processing units.

Imagination said that Apple had signed a new multi-year licensing agreement with the UK-based outfirm giving it access to a broader range of its intellectual property.

The US technology giant switched to using its own GPUs in 2017 and said that it would cease to use Imagination's IP in two years' time, sending shares in Imagination plummeting.

Imagination was bought by China's Canyon Bridge Capital in 2017 for £500.0m and was now a private company.

Some observers said that Imagination's IP for graphics and artificial intelligence could be key for Apple in the future.