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

OpenAI is buying Jony Ive's startup, io, for $6.5 billion, as first reported by The New York Times. The company confirmed the news in a blog post on its website headlined by the photo you see above, which is apparently real and not AI generated. As part of the deal, Ive and his design studio, LoveForm, will continue to work independently of OpenAI. However, Scott Cannon, Evans Hankey and Tang Tan, who co-founded io with Ive, will become OpenAI employees. 

OpenAI has not disclosed whether the deal would be paid for in cash or stock. The company has yet to turn a profit. According to reporting from The Information, OpenAI has agreed to share 20 percent of its revenue with Microsoft until 2030 in return for the more than $13 billion the tech giant has invested into it.  

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