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OpenAI buys Jony Ive’s device start-up for $10b, Apple shares drop

Los Angeles | OpenAI will acquire the artificial intelligence device start-up co-founded by Apple veteran Jony Ive in an almost $US6.5 billion ($10.1 billion) all-stock deal, joining forces with the legendary designer to make a push into hardware.

The purchase – the largest in OpenAI’s history – will provide the company with a dedicated unit for developing AI-powered devices. Acquiring the secretive start-up, named io, will also secure the services of Ive and other former Apple designers who were behind iconic products such as the iPhone.

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    Original URL: https://www.afr.com/world/north-america/openai-to-buy-jony-ive-s-secretive-device-start-up-in-10b-deal-20250522-p5m17w