Key Takeaways ChatGPT maker OpenAI announced plans on Wednesday to acquire io, the AI startup launched by former Apple design head Jony Ive.The deal is valued at just under $6.5 billion, with OpenAI paying $5 billion after accounting for its existing stake in the company.

OpenAI will acquire the AI device startup co-founded by Apple Inc. veteran Jony Ive in a nearly $6.5 billion all-stock deal, joining forces with the legendary designer to make a push into hardware.The purchase — the largest in OpenAI’s history — will provide the company with a dedicated unit for developing AI-powered devices.

OpenAI is acquiring io, the product-development startup founded by Apple design guru Jony Ive, in a $6.5 billion deal.