It's hilarious how Apple can't compete in the space and so many people here are just saying "Smart move by Apple" as if they had another choice at this point. It's not like they haven't tried.
But why on earth would they do that? It's both cheaper and safer to buy Google's model, with whom they already have a longstanding relationship. Examples include the search engine deal, and using Google Cloud infrastructure for iCloud and other services. Their new "private cloud compute" already runs on GCP too, perfect! Buying Gemini just makes sense, for now. Wait a few years until the technology becomes more mature/stable and then replace it with their own for a reasonable price.
No, they couldn't, because all current and future ethe training hardware is already tied up by contracts from the frontier labs. Apple could not simply buy its way in given how constricted the supply is.