io (company)
| Company type | Private |
|---|---|
| Industry | Artificial intelligence, hardware design |
| Founded | 2024 |
| Headquarters | San Francisco, California, United States |
Key people | Jony Ive, Scott Cannon, Evans Hankey, Tang Tan |
| Parent | OpenAI |
io Products, Inc. is an American artificial intelligence hardware company founded in 2024 by Jony Ive, Scott Cannon, Evans Hankey and Tang Tan.[1] The company was acquired by OpenAI in May 2025 to lead its hardware product development.[2]
History
[edit]io was founded in 2024 by Jony Ive, Scott Cannon, Evans Hankey and Tang Tan to develop a range of hardware products that use artificial general intelligence.[1]
In September 2024, the New York Times reported that Ive and his design collective LoveFrom was working with OpenAI on the development of an artificial intelligence hardware device that is "less socially disruptive than the iPhone".[3]
In 2024, io raised $225 million from multiple investors including Sutter Hill Ventures, the Emerson Collective, SV Angel, Maverick Ventures and Thrive Capital, as well as Ive who reportedly owned an 11 per cent stake.[1][4][5] It was reported that OpenAI founder Sam Altman did not have equity in the company.[1] The company also received an investment that year from OpenAI’s Startup Fund before it acquired a 23 per cent stake in the company for $1.5 billion in late 2024.[6][7]
On May 21, 2025, OpenAI announced the full acquisition of io and the merger of both companies.[2] The deal valued the company at $6.5 billion making it OpenAI’s largest acquisition to date.[7][8] In an announcement by Sam Altman and Jony Ive, io will merge with OpenAI to "work more intimately with the research, engineering and product teams in San Francisco."[9] The merger was announced with a nine-minute film shot in Cafe Zoetrope, San Francisco, in which Altman and Ive discussed their friendship and how they aim to "create a family of devices that would let people use AI to create all sorts of wonderful things."[10][11][12] The deal is subject to regulatory approval.[13]
At the point of acquisition io had 55 employees, all of which joined OpenAI including founders Scott Cannon, Evans Hankey and Tang Tan.[1][14] Ive and LoveFrom will remain independent and take on creative and design responsibilities at OpenAI.[2][15]
It was reported that OpenAI and io will release the first of its devices in 2026.[1]
References
[edit]- ^ a b c d e f Gurman, Mark (May 21, 2025). "OpenAI to Buy AI Device Startup From Apple Veteran Jony Ive in $6.5 Billion Deal". Bloomberg.
{{cite web}}: CS1 maint: url-status (link) - ^ a b c Isaac, Mike; Metz, Cade (May 21, 2025). "OpenAI Unites With Jony Ive in $6.5 Billion Deal to Create A.I. Devices". The New York Times. ISSN 0362-4331. Retrieved June 3, 2025.
- ^ Mickle, Tripp (September 21, 2024). "After Apple, Jony Ive Is Building an Empire of His Own". The New York Times. ISSN 0362-4331. Retrieved June 3, 2025.
- ^ Liu, Phoebe. "Apple Design Guru Jony Ive To Become A Billionaire Thanks To OpenAI". Forbes. Retrieved June 3, 2025.
- ^ Pringle, Eleanor. "Laurene Powell Jobs has the inside track on friend Jony Ive's collaboration with OpenAI—but still wants to see Apple succeed". Fortune. Retrieved June 3, 2025.
- ^ Wiggers, Kyle; Zeff, Maxwell (May 21, 2025). "Jony Ive to lead OpenAI's design work following $6.5B acquisition of his company". TechCrunch. Retrieved June 3, 2025.
- ^ a b Hammond, George; Criddle, Cristina; Acton, Michael (May 21, 2025). "OpenAI to buy Jony Ive's io for $6.4bn in hardware push". Financial Times. Retrieved June 3, 2025.
- ^ "Apple iPhone designer Sir Jony Ive joins ChatGPT-maker OpenAI". BBC News. May 21, 2025. Retrieved June 3, 2025.
- ^ "Sam and Jony introduce io". openai.com. Retrieved June 3, 2025.
- ^ Milmo, Dan (May 22, 2025). "iPhone design guru and OpenAI chief promise an AI device revolution". The Guardian. ISSN 0261-3077. Retrieved June 3, 2025.
- ^ Chayka, Kyle (May 28, 2025). "Sam Altman and Jony Ive Will Force A.I. Into Your Life". The New Yorker. ISSN 0028-792X. Retrieved June 3, 2025.
- ^ "iPhone designer Jony Ive joining OpenAI as part of $6.5 billion deal - CBS News". www.cbsnews.com. May 21, 2025. Retrieved June 3, 2025.
- ^ Roland Li, Laura Waxmann. "OpenAI to buy iPhone designer Jony Ive's startup for $6.5 billion. Here's what it means for S.F." San Francisco Chronicle. Archived from the original on May 22, 2025. Retrieved June 3, 2025.
- ^ "OpenAI recruits legendary iPhone designer Jony Ive to work on AI hardware in $6.5B deal". AP News. May 21, 2025. Retrieved June 3, 2025.
- ^ Clarence-Smith, Louisa (May 21, 2025). "Sir Jony Ive's tech start-up to merge with OpenAI in $6.5 billion deal". www.thetimes.com. Retrieved June 3, 2025.