OpenAI closes $6.5B deal for Jony Ive's hardware start-up
What's the story
OpenAI has completed its acquisition of Io, a hardware start-up co-founded by Apple's renowned designer Jony Ive. The deal, valued at nearly $6.5 billion, was announced by the artificial intelligence company on Wednesday wherein Ive's start-up was mentioned as "Io Products Inc." The original announcement post was removed from OpenAI's website due to a trademark lawsuit from Iyo, a hearing device start-up spun out of Google's moonshot factory.
Collaboration details
Blog post announcing the acquisition
The blog post announcing the acquisition has been updated with a new note. It reads, "We're thrilled to share that the Io Products, Inc. team has officially merged with OpenAI." The statement also clarified that Ive and his design firm LoveFrom will remain independent but take on significant design and creative roles at OpenAI.
Project goals
Who are the 'Io' team?
OpenAI first announced the acquisition and its plans to build dedicated AI hardware in a social media video featuring CEO Sam Altman and Ive. However, this video has also been removed from all platforms due to the ongoing lawsuit. The updated blog post explains that "the Io team, focused on developing products that inspire, empower and enable," will now work closely with OpenAI's research, engineering, and product teams based in San Francisco.