From CNET: OpenAI is reportedly exploring a potential acquisition of an AI startup co-founded by former Apple design chief Jony Ive and OpenAI CEO Sam Altman. The deal could exceed $500 million, according to The Information.
The publication said the venture, called io Products, is developing a range of AI-powered technologies, including a screenless phone concept and smart home devices. However, the company has denied that a phone is in development.
The closely guarded AI hardware initiative was first reported by the New York Times in September. Ive — who is renowned for designing the iPhone, iPad and other iconic Apple products — said he was partnering with Altman to create a new AI-driven computing device aimed at being "less socially disruptive than the iPhone."
Although few specifics have emerged about the device, Ive and Altman have reportedly secured early-stage backing from investors, including Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs. Funding was expected to reach $1 billion by the end of last year, according to the New York Times.
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