I think the biggest announcement was the private compute cloud with Apple Silicon. Apple is building up internal expertise to go after Nvidia.
(see "Apple Foundation Model Human Evaluation" here: https://machinelearning.apple.com/research/introducing-apple...)
But you CAN ask it to show you all pictures you took of your kids during your vacation to Cabo in 2023 and it'll find them for you.
The model "underperforms", but not in the ways that matter. This is why they partnered with OpenAI, to get the generic stuff included when people need it.
We see this play out with the ChatGPT integration. Rather than hosting GPT-4o themselves, OpenAI are. Apple is providing NVIDIA powered AI models through a third party, somewhat undermining the privacy first argument.