OpenAI led by Mr. Altman partners with iPhone designer Mr. Ive, WLD price skyrockets by 25%

## Developing a new AI device

OpenAI, known for its generative AI (artificial intelligence) ChatGPT, announced on the 21st that it will acquire the startup company IO for $6.5 billion (approximately ¥936 billion) through a full stock exchange transaction.

IO is a joint venture company co-founded last year by Jonathan Ive, known as the designer of Apple products like the iPhone, leading LoveFrom and OpenAI.

OpenAI had acquired 23% of IO's shares based on an agreement between the two companies at the end of last year, but this time it will be a complete acquisition.

Following the acquisition, Mr. Ive and about 55 engineers and researchers will join OpenAI. They are expected to be responsible for the creative and design fields and to develop new hardware that connects AI and consumers.

It is expected that specific details about what kind of device it will be will be announced next year.

OpenAI's CEO Sam Altman commented as follows.

AI is a wonderful technology, but excellent tools require efforts at the intersection of technology, design, and understanding of people and the world.

There is no one who can achieve this to the extent that Jonathan and his team can. The care they pour into every aspect of the development process is exceptional.

He also stated that "the meaning of using technology can fundamentally change" and added, "I want to deliver the same excitement that I felt when I first used an Apple computer 30 years ago." This remark seems to draw attention to the interest in new products.

OpenAI raised a record $40 billion (approximately 6 trillion yen) in April. SoftBank is leading the investment with $30 billion. OpenAI plans to use this funding to strengthen AI research and expand its computing infrastructure.

Regarding AI-related hardware, companies like Meta have released smart glasses that can take photos and videos and make calls, but their adoption has not progressed.

Additionally, Mr. Altman had invested in Humane, a company that was developing the "AI Pin," a wearable device equipped with an AI assistant powered by ChatGPT. However, there were numerous complaints about the AI Pin, such as overheating issues, and it has since been discontinued.

It is anticipated what kind of hardware OpenAI will develop in the future.

Mr. Altman is advancing not only OpenAI but also cryptocurrency projects. One of them is the biometric identification platform World Network (formerly Worldcoin). Following this movement, the WLD token soared, recording an increase of over 26% compared to the previous day.

Furthermore, on the 21st, a fundraising of 20 billion yen was conducted from major VC firm Andreessen Horowitz (a16z).