Feed: Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics
Feed Link: https://www.engadget.com/
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Title: OpenAI buys Jony Ive's design startup for $6.5 billion

Date: Wed, 21 May 2025 17:33:57 +0000
Link: https://www.engadget.com/ai/openai-buys-jony-...

OpenAI is buying Jony Ive's startup, io, for $6.5 billion, as first reported
by The New York Times. The company confirmed the news in a blog post on its
website headlined by the photo you see above, which is apparently real and
not AI generated. As part of the deal, Ive and his design studio, LoveForm,
will continue to work independently of OpenAI. However, Scott Cannon, Evans
Hankey and Tang Tan, who co-founded io with Ive, will become OpenAI
employees.

OpenAI has not disclosed whether the deal would be paid for in cash or stock.
The company has yet to turn a profit. According to reporting from The
Information, OpenAI has agreed to share 20 percent of its revenue with
Microsoft until 2030 in return for the more than $13 billion the tech giant
has invested into it.

Developing...

This article originally appeared on Engadget at
https://www.engadget.com/ai/openai-buys-jony-...
billion-173356962.html?src=rss

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