M&A
OpenAI buys Jony Ive's io for $6.5B to build AI-native devices
OpenAI announced on May 21, 2025 that it was acquiring io, the hardware startup founded by Jony Ive with Sam Altman, in an all-stock deal valued at about $6.5B. Ive's LoveFrom took over design across OpenAI; the first devices were slated for late 2026.