OpenAI, led by Jony Ive, has announced its intention to combine the technologies behind its well-known chatbot ChatGPT with the expertise in product design that has made devices like the iPhone bestsellers.
This is reported by Finway
The deal for io Products, founded by Ive a year ago, does not include detailed financial information. However, according to a source familiar with the situation, the total value of the deal is estimated at $6.5 billion, based on OpenAI’s valuation of $300 billion.
OpenAI CEO Sam Altman and Jony Ive noted that their new products, which they plan to develop, will aim to integrate with cutting-edge technologies that have been in use for decades, but with a new approach to design.
About io Products and OpenAI’s Plans
io Products was founded by Jony Ive, the former Chief Designer at Apple, who worked at the company for nearly 30 years and designed numerous iconic products, such as the iMac, MacBook, iPhone, and iPad. After leaving Apple in 2019, Ive focused on his own projects, one of which was io Products. At the end of last year, OpenAI had already acquired a 23% stake in the company.
Now, Ive’s team, along with OpenAI, will work on creating new gadgets that will be more suited for working with artificial intelligence than traditional smartphones. The first such devices are planned to launch in 2026.