OpenAI is acquiring Jony Ive and Sam Altman's startup, io, which will lead creative and design work for OpenAI.

The all-stock deal with OpenAI values Ive’s AI hardware startup io at $6.5 billion—and is set to be a major windfall for the man who designed the iPhone.

Here’s what we know: it’s probably not smart glasses. Beyond that, we don’t know much about what Jony Ive and OpenAI are building through their newly combined company io, except that it’s some kind of AI super-gadget. But after a couple of years of watching the industry try and shove AI into every form factor you can imagine, we have some guesses.

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.

OpenAI has recruited Jony Ive, the designer behind Apple’s iPhone, to lead a new hardware project for the artificial intelligence company that makes ChatGPT.

Jony Ive's career was mainly at Apple, designing products like the iPhone and Mac. Now he'll work at OpenAI, which bought his AI device startup io.

OpenAI forms a new hardware division with the io team, led by Jony Ive, to develop AI-native devices, possibly launching a voice-first product as early as 2026.

Jony Ive, the famed designer behind iconic Apple products, will join OpenAI to create devices with generative artificial intelligence capability.

OpenAI will buy Ive’s startup in a $6.5 billion deal, as Ive and CEO Sam Altman work on new generation of devices and other AI products.

Jony Ive, the famed designer who joined Steve Jobs to develop Apple’s most popular products, will now curate new devices for OpenAI after his startup was acquired by Sam Altman’s firm earlier this week,