OpenAI acquires artificial intelligence company IO from former Apple executive for $6.50 billion

OpenAI is acquiring io, a startup co-founded by Jony Ive, in an all-stock deal for nearly $6.50 billion, giving it a division dedicated to developing artificial intelligence-powered devices and securing services from Ive and other former Apple designers. The acquisition will bring about 55 hardware engineers, software developers and manufacturing experts to OpenAI, who will build a series of devices, with the first expected in 2026.