CNBC Exclusive: OpenAI has unveiled plans to acquire AI hardware startup io – founded by Apple’s former design chief Jony Ive – in an all-stock deal valued at approximately $6.5 billion, multiple sources familiar with the transaction confirmed to CNBC on Tuesday. Pending regulatory approvals, this landmark acquisition represents OpenAI’s largest corporate purchase since its inception and is slated for completion by late summer.
Under the terms, OpenAI will pay $5 billion for io’s equity, with the remaining valuation stemming from its existing 23% stake acquired through a strategic partnership finalized in Q4 2023. The deal includes the integration of io’s 55-member engineering and manufacturing team into a newly formed AI hardware division at OpenAI. This unit will spearhead development of proprietary AI devices first conceptualized during two years of private discussions between Ive and OpenAI CEO Sam Altman.
While Ive’s independent design firm LoveFrom won’t merge with OpenAI, the visionary designer will assume a lead role in shaping the company’s creative direction. His influence is expected to extend across next-generation ChatGPT interfaces, audio capabilities, and undisclosed “ambient computing” products that align with his philosophy of invisible technology.
“This isn’t about replacing smartphones, but creating an entirely new paradigm – much like how mobile devices complemented rather than erased the laptop,” Altman told CNBC in an exclusive statement, hinting at a late-2026 product launch window.
The acquisition marks Ive’s first major consumer tech engagement since departing Apple in 2019, where he spent three decades defining iconic products from the iPhone to the Apple Watch. Industry analysts view this partnership as a strategic countermove to Big Tech’s AI hardware ambitions, particularly as Google and Amazon accelerate development of specialized AI chips and devices.
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