OpenAI | Crypto

OpenAI announced on May 21 that it will acquire Jony Ive’s artificial intelligence hardware startup io in an all-equity transaction valued at approximately $6.4 billion, according to a report by CNBC. The acquisition, OpenAI’s largest to date, marks a decisive step into hardware for the company best known for its generative AI models. The deal […] The post OpenAI ventures into hardware with $6.4B deal for legendary designer Jony Ive’s startup io appeared first on CryptoSlate.

News of the deal follows restructuring plans from OpenAI to focus on a public benefit corporation controlled by a non-profit organization. Tech company Microsoft and artificial intelligence firm OpenAI are reportedly in talks to renegotiate the investment deal between the AI firm and Microsoft, which is OpenAI's biggest financial backer. According to a report from the Financial Times, Microsoft may give up a portion of its equity in OpenAI for continued access to the AI company's products and models beyond 2030, when some of the original terms of a deal signed between the two companies expire. Microsoft has invested over $13 billion into OpenAI since 2019, when it first acquired an interest in the artificial intelligence firm. Read more