The all-stock deal with OpenAI values Ive’s AI hardware startup io at $6.5 billion—and is set to be a major windfall for the man who designed the iPhone.

OpenAI said it was buying IO, a start-up founded by Mr. Ive, the designer of the iPhone, to usher in a new era of artificial intelligence hardware.

Hours after Sam Altman and Jony Ive announced on Wednesday that OpenAI was buying Ive’s company, io, in an all-stock transaction valued at $6.5 billion, Investors were happy about the hefty returns they got from the sale of io to OpenAI.

Jony Ive, the famed designer who joined Steve Jobs to develop Apple’s most popular products, will now curate new devices for OpenAI after his startup was acquired by Sam Altman’s firm earlier this week,

OpenAI is acquiring io, the hardware-based AI startup co-created by Jony Ive, OpenAI announced today. Ive has been working with OpenAI CEO Sam

Please, for the love of God, do not make it a voice-controlled device. Here's what we know about the possible device that Ive and Sam Altman are teasing in