OpenAI is buying io, a hardware company founded by former Apple design chief Jony Ive and several other former engineers from his time there, including Scott Cannon, Evans Hankey, and Tang Tan.

Hours after Sam Altman and Jony Ive announced on Wednesday that OpenAI was buying Ive’s company, io, in an all-stock transaction valued at $6.5 billion, Investors were happy about the hefty returns they got from the sale of io to OpenAI.

OpenAI and Jony Ive's vision for its AI device is a screenless companion that knows everything about you. Details leaked to the Wall Street Journal give us a clearer picture of OpenAI's acquisition of io,

With the intent to completely change the consumer electronics landscape, OpenAI CEO Sam Altman has reportedly shared plans to launch 100 million AI-powered devices designed in collaboration with former Apple designer Jony Ive. The announcement follows OpenAI’s acquisition of io, an AI startup co-founded by Ive, said to be valued at $6.5 billion .

The hand of Jony Ive is all around us: on our desks, in our pockets, in our palms. More than any other living designer, Apple’s former design chief has shaped and contoured our day-to-day experience. Yet unlike the buzzing, attention-hungry iPhone – his most earth-shaking effigy – the man himself is much less forthcoming.

OpenAI and Jony Ive have teamed up to bring the world the AI device people don't yet know they need. Will it work?