Apple Rattled As OpenAI Acquires io to Develop AI Devices
On May 21, Apple Inc. (NASDAQ:AAPL) shares declined after reports surfaced that OpenAI is acquiring Jony Ive’s hardware startup, io Products, in a $6.5 billion deal. The acquisition has fueled investor concerns about rising competition in the consumer device market. The acquisition positions OpenAI, co-founded by Sam Altman, to explore AI-powered alternatives to smartphones. Ive, […]