OpenAI Acquires AI Device Company io for $6.5 Billion USD

Abstract

• OpenAI acquires ex-Apple design chief Jony Ive’s AI {hardware} firm io for $6.5 billion USD
• The all-stock deal was largely on account of a two yr collaboration between Ive and Sam Altman
• The deal marks OpenAI’s largest acquisition up to now

OpenAI has introduced its acquisition of io, the AI {hardware} startup based by former Apple design chief Jony Ive. OpenAI CEO Sam Altman struck a landmark $6.5 billion USD all-stock deal, marking this OpenAI’s largest acquisition up to now and a major transfer into the patron {hardware} market.

The corporate beforehand noticed OpenAI personal a 23% minority stake in io. Ive, who based the corporate final yr, is finest recognized for his in depth work at Apple Inc. the place he served as Chief Design Officer till his departure in 2019. He was a pivotal determine within the design of lots of Apple’s most iconic merchandise, together with the iMac, iPod, iPhone, iPad, MacBook and the Apple Watch. io was based final yr by Ive and this acquisition will see the corporate merge its crew of 55 engineers, designers and researches who’re ““targeted on creating merchandise that encourage, empower and allow” with OpenAI “to work extra intimately with the analysis, engineering and product groups in San Francisco.”

OpenAi additionally mentioned within the announcement {that a} collaboration between Ive and the inventive collective LoveFrom and Altman started two years in the past. It mentioned, “A collaboration constructed upon friendship, curiosity and shared values rapidly grew in ambition. Tentative concepts and explorations advanced into tangible designs.” The assertion continues, “As io merges with OpenAI, Jony and LoveFrom will assume deep design and inventive duties throughout OpenAI and io.” The scope of OpenAi’s plans post-acquisition are intently saved underneath wraps, Wall Avenue Journal reported that the “intently guarded venture” on a brand new machine “will transfer customers past screens” and see OpenAI and io “contemplating choices together with headphones and different gadgets with cameras.” Altman mentioned in a press release, “AI is an unbelievable expertise, however nice instruments require work on the intersection of expertise, design and understanding folks and the world. Nobody can do that like Jony and his crew; the quantity of care they put into each facet of the method is extraordinary.”