OpenAI Acquires AI Startup Founded by Former Apple Designer Jony Ive

May 21, 2025

OpenAI announced its acquisition of the AI device startup io, founded by former Apple (AAPL, Financial) chief designer Jony Ive, for approximately $6.4 billion. This transaction will be completed entirely in stock, including the shares currently held by the company. The io team focuses on developing products designed to inspire, empower, and achieve significant outcomes.

Following the merger, io will collaborate more closely with OpenAI's research, engineering, and product teams based in San Francisco. This acquisition aims to integrate io's innovative approach with OpenAI's existing technological capabilities to advance the field of artificial intelligence.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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