Hours after Sam Altman and Jony Ive announced on Wednesday that OpenAI was buying Ive’s company, io, in an all-stock transaction valued at $6.5 billion, Investors were happy about the hefty returns they got from the sale of io to OpenAI.

The all-stock deal with OpenAI values Ive’s AI hardware startup io at $6.5 billion—and is set to be a major windfall for the man who designed the iPhone.

OpenAI is acquiring io, the hardware-based AI startup co-created by Jony Ive, OpenAI announced today. Ive has been working with OpenAI CEO Sam

Jony Ive, the famed designer who joined Steve Jobs to develop Apple’s most popular products, will now curate new devices for OpenAI after his startup was acquired by Sam Altman’s firm earlier this week,

I really hope OpenAI's new hardware doesn't make me talk to myself in public.

Here’s what we know: it’s probably not smart glasses. Beyond that, we don’t know much about what Jony Ive and OpenAI are building through their newly combined company io, except that it’s some kind of AI super-gadget. But after a couple of years of watching the industry try and shove AI into every form factor you can imagine, we have some guesses.