iPhone designer Jony Ive joining OpenAI
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OpenAI said it was buying IO, a start-up founded by Mr. Ive, the designer of the iPhone, to usher in a new era of artificial intelligence hardware.
Hours after Sam Altman and Jony Ive announced on Wednesday that OpenAI was buying Ive’s company, io, in an all-stock transaction valued at $6.5 billion, Investors were happy about the hefty returns they got from the sale of io to OpenAI.
Altman and Ive announced OpenAI’s acquisition of Ive’s io in a statement Wednesday, with the deal valued at roughly $6.5 billion after OpenAI acquired 23% of io in a partnership deal in 2024.