On May 22, OpenAI announced the acquisition of io, a pioneering AI device startup founded by former Apple iPhone designer Jony Ive, for a staggering $6.4 billion. This strategic move is designed to propel OpenAI into the hardware sector, expanding its reach beyond software. Upon the completion of the deal, Ive will join OpenAI to spearhead innovative design and creativity, while his creative collective LoveFrom will continue to operate independently. OpenAI disclosed that, given its existing 23% stake in io, the actual payment amount for the acquisition stands at $5 billion. This marks OpenAI's largest acquisition to date, following its recent $3 billion purchase of the AI-assisted coding tool Windsurf.
