OpenAI splashes $6.4B on Jony Ive bus... - Mobile World Live
OpenAI announced a significant deal to acquire the AI devices start-up founded by former Apple designer Jony Ive. The deal, valued at approximately $6.4 billion, was enthusiastically celebrated by CEO Sam Altman as the commencement of a groundbreaking technological revolution.
Ive, known for his pivotal role at Apple, will now take on deep creative and design responsibilities at OpenAI and io. In a joint blog post by Ive and Altman, it was revealed that Ive's "creative collective" LoveFrom will continue to operate independently within the broader integration of io and OpenAI.
Merger Details
Ive disclosed that he, along with former Apple employees Scott Cannon, Tang Tan, and Evans Hankey, established io just a year ago. The io team, which focuses on developing innovative products, will merge with OpenAI to collaborate closely with the research, engineering, and product units based in San Francisco. The deal, structured as an all-equity agreement, also includes OpenAI assuming ChatGPT maker's stake in io. With OpenAI paying around $5 billion for the acquisition, including its existing 23% stake, the merger marks a significant milestone for both parties.
The Vision Behind the Merger
Altman emphasized Ive's exceptional creativity and vision, stating, "Jony is the deepest thinker of anyone I’ve ever met,”. He highlighted the merger's objective to develop a range of AI-powered devices that empower users to create innovative experiences. This strategic direction aligns with OpenAI's mission to explore the boundless possibilities of AI technology.
According to CNBC, this deal stands as the largest undertaken by OpenAI to date, following its recent $3 billion acquisition of Windsurf, an AI-assisted coding tool. Ive's departure from Apple in 2019 to launch LoveFrom marked a significant transition after his longstanding tenure as Apple's chief design officer, where he played a pivotal role in shaping iconic products like the iPhone and Mac.
For more information on Ive's departure from Apple, you can visit here.
