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io Products, a San Francisco, California-based company, develops and manufactures AI hardware devices for consumer use, focusing on physical AI devices that integrate advanced design with AI software to enhance human-machine interaction. The company was acquired by OpenAI in May 2025 for approximately $6.5 billion in an all-stock deal, following OpenAI's prior 23% stake from a late 2024 investment. With a pre-acquisition team of around 55 employees, io Products had attracted investments from firms including Emerson Collective, Sutter Hill Ventures, Thrive Capital, Maverick Ventures, and SV Angel. Post-acquisition, Jony Ive and his design collective LoveFrom are slated to lead design efforts within OpenAI, whose CEO is Sam Altman. io Products was founded in 2024 by Jony Ive, Scott Cannon, Evans Hankey, and Tang Tan.
io Products aimed to develop AI-powered devices designed to integrate seamlessly into daily life. The startup was established in collaboration with Sam Altman.
Jony Ive founded io Products, Inc., which later merged with OpenAI. Following the merger, Jony Ive and LoveFrom remain independent entities.
Sam Altman collaborated in the establishment of io Products, which was founded by Jony Ive. The company's goal was to develop AI-powered devices.
io Products aimed to develop AI-powered devices designed to integrate seamlessly into daily life. The startup was established in collaboration with Sam Altman.
Jony Ive founded io Products, Inc., which later merged with OpenAI. Following the merger, Jony Ive and LoveFrom remain independent entities.
Sam Altman collaborated in the establishment of io Products, which was founded by Jony Ive. The company's goal was to develop AI-powered devices.
io Products was [Jony Ive](https://startupintros.com/people/jony-ive)'s AI hardware design company, founded circa 2023 to build consumer devices purpose-built for artificial intelligence. In May 2025, [OpenAI](https://startupintros.com/orgs/openai) [acquired io Products for $6.5 billion in an all-stock deal](https://startupintros.com/news/2025-05-15-openai-acquires-io-products) — one of the largest acquisitions in AI history and a clear signal that the industry's leading AI company believes software alone isn't enough.
Ive spent 27 years at [Apple](https://startupintros.com/orgs/apple) as Chief Design Officer, leading the design of the iMac, iPod, iPhone, iPad, and Apple Watch — products that collectively generated trillions in revenue. His departure from Apple in 2019 and subsequent founding of io Products reflected a conviction that AI needs new hardware form factors, not just better apps on existing devices.
The acquisition gives OpenAI something no amount of engineering talent can buy: the world's most accomplished hardware designer and his team. For the startup ecosystem, the deal signals that the next phase of AI competition isn't just about model performance — it's about who builds the device you interact with AI through. Hardware is back.
