Business
business
Jon Keegan

OpenAI buying Apple former design lead Jony Ive’s startup for $6.5 billion

Jony Ive, Apple’s former design lead of 27 years, is heading to OpenAI. Ive was responsible for some of Apple’s most iconic product designs, including the iPod, iMac, and the iPhone, and had a close relationship with Steve Jobs.

OpenAI will be buying io, Ive’s AI device startup, in a $6.5 billion deal — the largest in OpenAI’s history. The startup “will provide the company with a dedicated unit for developing AI-powered devices,” Bloomberg reports.

In a post on OpenAI’s website announcing the deal, CEO Sam Altman wrote:

“What it means to use technology can change in a profound way. I hope we can bring some of the delight, wonder and creative spirit that I first felt using an Apple Computer 30 years ago.”

The first devices are expected to debut in 2026.

OpenAI to Buy AI Device Startup From Apple Veteran Jony Ive in $6.5 Billion Deal

OpenAI to Buy AI Device Startup From Apple Veteran Jony Ive in $6.5 Billion Deal

In a post on OpenAI’s website announcing the deal, CEO Sam Altman wrote:

“What it means to use technology can change in a profound way. I hope we can bring some of the delight, wonder and creative spirit that I first felt using an Apple Computer 30 years ago.”

The first devices are expected to debut in 2026.

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Tesla Will Open Up Its Chargers To Other Brands, In Order To Receive Federal Subsidies

After a big pullback for EVs, climbing gas prices are causing drivers to eye them again

Still, the market is much different than it was the last time oil prices were this high.

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Hyunsoo Rim
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McDonald’s plans $3 menu items as fast food loses its price edge

Americans are spending more of their dining-out dollars at full-service restaurants again.

Fast food value meals for Trending feature in Food
business
Rani Molla

How Tesla quietly wound up owning a small piece of SpaceX

Tesla is converting its recent $2 billion investment in Elon Musk’s AI company, xAI, into a small ownership stake in SpaceX — just months before the rocket maker’s highly anticipated IPO.

Here’s what happened: Tesla announced its xAI investment in late January, after a shareholder proposal to invest fell short last year. Several days later, xAI merged with SpaceX. All three companies are headed by Musk.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Tesla Converts xAI Investment Into SpaceX Stake Ahead of IPO

Tesla Converts xAI Investment Into SpaceX Stake Ahead of IPO

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Tom Jones
big red
3/10/26
Just how huge is YouTube, anyway?

Google’s video platform is now the world’s largest media company, per new MoffettNathanson research.

Presentation of the YouTube Podcast Awards
Southwest Airlines At San Diego International Airport

Southwest stopped fuel hedging a year ago. Whoops.

It’s been a year since Southwest said it would end its fuel-hedging program. Oil’s moves this year make that decision look like a mistake.

Max Knoblauch3/9/26

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