Gene Munster, managing partner at Deepwater Asset Management, expressed shock at Apple Inc's decision to terminate its electric car project, known as Project Titan, to focus on AI. Munster had previously believed the project could significantly boost Apple's revenue by entering the auto market. Despite the project's cancellation, Munster sees potential in Apple's pivot towards generative AI, leveraging its expertise in privacy and security. He also views the decision as positive for Tesla Inc, anticipating less competition in the EV market. Bloomberg reported that some employees from the car project would join Apple's AI division, with potential layoffs expected.