India, May 21 -- On Wednesday, OpenAI announced it's acquiring io, an AI devices startup founded by legendary designer Jony Ive, in a $6.4 billion all-equity deal. The deal includes OpenAI's previous stake in the company.

Jony Ive, known worldwide as the creative genius behind Apple's most iconic products-the iPhone, iPod, iPad, and MacBook Air-is set to take on "deep creative and design responsibilities across OpenAI and io," according to a company statement.

While it will now be absorbed into OpenAI, Ive's design firm, LoveFrom, will remain independent and continue to operate separately.

"The io team, focused on developing products that inspire, empower and enable, will now merge with OpenAI to work more intimately with the research,...