OpenAI has agreed to acquire former Apple design chief Sir Jony Ive’s hardware start-up io for $6.4bn in a bet on alternatives to the smartphone as the dominant device to access AI.
The ChatGPT maker has paid $5bn for full ownership of io, in an all-equity deal. It already had a 23 per cent stake. The 55 employees working at io will join OpenAI, but Ive will not become an employee, according to people close to the deal.
Ive, the designer behind many of Apple’s best-known products including the iPhone, left the company in 2019 after almost three decades.
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