Apple's AI licensing strategy revolves around positioning itself to extract significant licensing fees from major AI companies. Here's a summary based on the podcast excerpts:

1. Strategic Positioning:
Apple is setting itself up to leverage its access to affluent users, aiming to extract substantial value from competitors like Microsoft and Alphabet. "Apple's putting itself in a position to extract 10 tons of flesh from either Microsoft or Alphabet" by being the AI that serves "the billion wealthiest people on the planet" 00:54:32 - 00:54:41.

2. Financial Impact:
This strategy is expected to significantly boost Apple's free cash flow. Analysts predict "another 10 or $20 billion a year in free cashflow to Apple" thanks to these AI moves 00:54:48 - 00:54:50.

3. ChatGPT Integration:
By integrating ChatGPT into iPhones, Apple has mitigated threats from OpenAI launching its own phone. This integration prevents the need for users to switch to a hypothetical "ChatGPT phone" since they already have a ChatGPT-enabled iPhone 00:31:34 - 00:31:50.

4. Licensing Fees:
Apple is positioning itself to secure significant licensing fees from AI companies, similar to the lucrative deal with Google. Apple is "setting up... the ability to extract $20 billion a year from Google" and aims to implement a similar strategy with AI companies 00:25:34 - 00:25:53.

5. Contextual Intelligence:
Apple's approach is not just about artificial intelligence but "contextual intelligence," which focuses on making users' lives easier by efficiently managing and utilizing their data with their permission 00:23:47 - 00:23:58.

In summary, Apple's AI licensing play is a multifaceted strategy designed to leverage its market position and user base to secure significant financial gains from AI companies, while also enhancing its product offerings through strategic integrations like ChatGPT.