Io (company)
| Company type | Private |
|---|---|
| Industry | Artificial intelligence hardware |
| Founded | 2024 |
| Founder | Jony Ive, Scott Cannon, Evans Hankey, Tang Tan |
| Fate | Acquired by OpenAI (May 21, 2025) |
| Headquarters | San Francisco , United States |
Key people | Scott Cannon, Evans Hankey, Tang Tan |
| Products | AI hardware devices |
| Owner | OpenAI (since 2025) |
Number of employees | 55 (2025) |
| Parent | OpenAI |
io Products, Inc. is a United States-based company specializing in artificial intelligence hardware, founded in 2024 by Jony Ive, Scott Cannon, Evans Hankey, and Tang Tan. In May 2025, OpenAI acquired the company to spearhead its initiatives in hardware product development.
History
Founded with the purpose of creating hardware solutions powered by artificial general intelligence, io collaborated with OpenAI and Ive’s design firm LoveFrom on an AI device intended to be "less socially disruptive than the iPhone," as reported in September 2024.
During 2024, io secured $225 million in funding from backers such as Sutter Hill Ventures, the Emerson Collective, SV Angel, Maverick Ventures, Thrive Capital, and Ive himself, who retained an 11% ownership. Prior to its acquisition, OpenAI’s Startup Fund contributed investment and obtained a 23% share for $1.5 billion. Notably, OpenAI founder Sam Altman did not hold any equity.
On May 21, 2025, OpenAI announced it had completed the acquisition of io in a transaction valued at $6.5 billion—its largest acquisition to date. This merger was designed to combine io’s hardware capabilities with OpenAI’s research and product teams based in San Francisco. A promotional video showcased Altman and Ive sharing their ambition to develop AI devices that unlock new creative opportunities.
At the time of acquisition, io employed 55 individuals, including founders Cannon, Hankey, and Tan, all of whom transitioned to roles within OpenAI. Ive and LoveFrom continue to operate independently but contribute creatively and in design capacities for OpenAI. The initial AI products emerging from this partnership are anticipated for release in 2026.