OpenAI is considering acquiring io Products, a startup founded by former Apple chief designer Jony Ive and OpenAI CEO Sam Altman, for at least $500 million, The Information reports.
io Products is developing concepts for a variety of AI-powered devices, including a screenless phone and smart home products. Ive and Altman have also been collaborating on an AI-powered voice assistant for over a year.
The joint venture is funded by the Emerson Collective, a foundation founded by Ive and Laurene Powell Jobs, and currently has a small team that includes former Apple designers who worked with Ive on the iPhone.
According to the report, in addition to the acquisition option, OpenAI is also considering a partnership with the startup. In the event of an acquisition, OpenAI would gain access to the technology and full control over the development team. If a partnership is chosen, io Products would focus on product engineering, OpenAI would be responsible for AI capabilities, and another Iva company, LeveForm, would help with design.