OpenAI: The company made a big deal, bought Apple’s famous designer’s company for $6.5 billion
About two years ago, news came that OpenAI CEO Sam Altman was secretly working on an AI hardware product with Apple’s famous designer Jonny Ive. Now this secret has come out. OpenAI has officially confirmed that it has acquired Jonny Ive’s co-founded startup company io Products for $6.5 billion. With this move, it is clear that the company that created ChatGPT is now taking a big step towards bringing AI to the physical world.
Ive will be the main face of OpenAI’s AI hardware mission
Jony Ive, who designed revolutionary products like iPhone, iMac and MacBook, will now shape OpenAI’s hardware future, although the company did not reveal which devices they are making, but they have described it as a “family of new generation products equipped with AI” which will incorporate AI into our daily lives beyond the screen.
Ive’s design firm LoveFrom, which he started after leaving Apple in 2019. OpenAI has said that Ive and his team will be given in-depth design and creative responsibilities that will apply to both io and OpenAI.
Sam Altman’s big claim: “The greatest thing ever done”
According to the report, after the deal was announced, Altman told his employees that OpenAI now has a chance to do the “greatest thing in history.” He also indicated that the addition of Jony Ive and io could increase OpenAI’s value to $1 trillion.
OpenAI has paid $5 billion in equity in the deal. OpenAI already held a 23% stake in io, which was part of a partnership that began in 2023. According to the documents, io was registered in Delaware in 2023 and registered in California in April 2024.
