OpenAI Acquires Jony Ive’s IO Products for $6.5 Billion

OpenAI is set to purchase Jony Ive’s IO Products for a deal valued at $6.5 billion. A source familiar with the situation revealed the acquisition, highlighting OpenAI's strategic move to leverage innovative design expertise as it forges ahead in the tech industry.

May 21 (Reuters) - In a significant development in the tech industry, OpenAI has announced its plans to acquire Jony Ive's IO Products in a deal estimated at $6.5 billion, according to a source familiar with the matter.

This acquisition marks a notable expansion for OpenAI into innovative hardware design, drawing on Ive's renowned expertise in product design to bolster its technological offerings.

The deal underscores OpenAI's ambition to enhance its product lineup, positioning itself more strategically within the competitive tech landscape.

(With inputs from agencies.)