OpenAI Is Buying Jony Ive’s AI Start-Up for $6.4 Billion. Apple Stock Falls.
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OpenAI said Wednesday that it was buying a start-up owned by Jony Ive, Apple’s former chief design officer, for $6.4 billion. The all-stock deal to acquire artificial intelligence device-maker io includes OpenAI’s current stake in the company. In a statement alongside Ive, CEO Sam Altman said io would merge with OpenAI “to work more intimately with the research, engineering and product teams in San Francisco,” while Ive and LoveFrom, his so-called creative collective, would assume “design and creative responsibilities.”
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