OpenAI buys Jony Ive’s design startup for $6.5 billion

OpenAI is shopping for Jony Ive’s startup, io, for $6.5 billion, as first reported by The New York Times. The corporate confirmed the information in a blog post on its web site headlined by the photograph you see above, which is outwardly actual and never AI generated. As a part of the deal, Ive and his design studio, LoveForm, will proceed to work independently of OpenAI. Nonetheless, Scott Cannon, Evans Hankey and Tang Tan, who co-founded io with Ive, will turn out to be OpenAI staff.

OpenAI has not disclosed whether or not the deal could be paid for in money or inventory. The corporate has but to show a revenue. In response to reporting from The Information, OpenAI has agreed to share 20 p.c of its income with Microsoft till 2030 in return for the greater than $13 billion the tech large has invested into it.

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