Why did OpenAI buy Jony Ive & Co

OpenAI, made the biggest acquihire in  Silicon Valley’s history. Sam Altman and his crew  bought Jony Ive and his coterie of ex-Apple hotshots for a whopping $6.5 billion. It is an all-stock deal for io Products, a 55-person company that is building an “amazing AI device.”

It is hard to say what that device is because in the nine-minute video accompanying the news of the deal Ive and Altman don’t say anything. The slick video harkens back to Ive’s glory days at Apple when he would talk about the chips, designs, and aluminum on videos extolling the iPhone, the watch, and the laptops. In a way, what he and Altman are indicating, through words, and subliminal marketing, is that we are building the next Apple.

In 2021, OpenAI was valued at $6.1 billion. Now they are buying a 55-person company with a mystery product for $6.5 billion. This talk of the new yet to be announced device will allow Altman to raise a few more billion dollars, and raise the valuation of OpenAI to hitherto unprecedented heights, and in turn acquire other vectors to further his ambition.

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