Brian Ach
Microsoft (NASDAQ:MSFT)-backed OpenAI completed its roughly $6.5B all-stock deal to acquire an AI device startup co-founded by Apple’s (NASDAQ:AAPL) former design chief Jony Ive.
OpenAI said on Wednesday that io Products’ team has officially merged with OpenAI.
The AI company noted that Ive and LoveFrom remain independent and have assumed deep design and creative responsibilities across OpenAI.
The companies had announced the deal in May. Previously it was reported that OpenAI was paying $5B in stock to acquire Ives’ hardware startup io, while the remaining $1.5B came from a 23% stake that OpenAI acquired in io during the fourth quarter of 2024.
Ive is best known for his design work on the iPhone and Mac. Following the acquisition announcement, OpenAI’s CEO Sam Altman gave his staff a preview of the devices he is developing with Ive, as he hoped to ship 100M AI “companions” that become a part of everyday life.
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