Apple's invest $1 billion in Chinese Uber rival Didi
May 15th 2016
Didi is a ride sharing service and direct competitor to Uber in China. The company is valued between $20-$25 billion. This is a very big investment for Apple, which typically deals in much small acquisitions and investments in manufacturing/component partners.
Sophia Yan for CNN:
For Apple, some observers speculated the investment could be a way for the U.S. company to test new products in China, including a rumored car-related project. Others suggested the Didi partnership may help smooth Apple's relationship with the Chinese government.
Probably a good read on the situation. It seems an aggressive move and the negative vibe recently among Apple investors probably isn't coincidental.