$3.6 billion acquisition, is OpenAI going to create a "phone" that people can't imagine?

April 7th, The Information reported that sources familiar with the matter said that OpenAI is considering acquiring io Products, an AI hardware company co-founded by Sam Altman, CEO of OpenAI, and former Apple Chief Designer Jony Ive (Jony Ive), at a price not less than $500 million (approximately RMB 3.641 billion).

The Information

According to a report from The New York Times last year, this startup was established after Airbnb (ABNB) CEO Brian Chesky introduced Altman and Ive to each other. Chesky, a close friend of Altman, worked at LoveFrom, a design studio founded by Ive shortly after he left Apple in 2019. Ive worked at Apple for nearly 30 years, designing classic products such as iPhone, Mac, iWatch, etc.

Sources familiar with the matter revealed that io Products is developing an AI device, which may include a screenless "phone" and AI-supported smart home terminals. However, insiders emphasized that it will be an innovative product "completely different from a phone." This device is still in the conceptual design stage.

It was reported that the transaction structure involves io Products hiring engineers to handle hardware engineering development, OpenAI providing artificial intelligence technology, and LoveFrom, a studio founded by Jony Ive, leading industrial design and interaction experience.

The message indicated that investment institutions such as Emerson Collective, owned by Laurene Powell Jobs, also invested in the startup. The company currently has a small team, including former Apple designers Tang Tan and Evans Hankey. As of September last year, this startup is expected to raise up to $1 billion before the end of 2024.

New York Times

In addition to a full acquisition, OpenAI and this startup are also discussing cooperation plans. Sources familiar with the matter said that if acquired, OpenAI would not only obtain the technology but also the engineering team that has been developing the device.

This acquisition will expand OpenAI's product line, which includes AI software that can control user browsers, AI server chips, and humanoid robots.

Although OpenAI and Apple announced their collaboration last June to integrate ChatGPT into the Siri system, the AI hardware joint venture will put OpenAI in more direct competition with Apple.

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