AI device by Sam Altman and Jony Ive could raise upto $1B

The rumours of Sam Altman and Jony Ive working on an AI device have been picking up steam. Feels like the idea has gone from the dream stage to the funding stage. The Information reports that the new “mysterious” company is looking to raise up to $1B from Thrive and Emerson.

What’s going on here?

AI device by Sam Altman and Jony Ive could raise up to $1B.

What does that mean?

AI wearables are hot in 2024, so much so that folks gotta keep a count of “days since AI wearable launch.”

But just like AI “wrapper” startups, Sam Altman might be coming for AI devices too. He’s been secretly planning an AI device since last year with the former Apple designer Jony Ive.

Though nothing has been confirmed about this AI device, but The Information reports that Sam and Jony have set up a company for the device and are talking with leading VC firms to raise money. The amount? Upto $1B.

(I think Sam gotta revisit his Alphabet, right 😉?)

The VC firms in talks are Emerson Collective and Thrive Capital. Emerson’s founder Laurene Powell Jobs is buddies with Jony and Sam where Thrive led OpenAI’s latest share purchase valuing it at $86B.

Why should I care?

AirPods are the best example of tech that no one imagined would be an everyday wearable 10 years ago. Same with AI adoption, the scale we have now was not intuitive. So Jony and Sam, two folks who did imagine these coming together can really lead to a fundamental shift in the tech we carry every day.

If this happens, it’s no secret that OpenAI’s models will power the thing. OpenAI could also own a part of this company. This device is likely to be different from a smartphone. Humane’s pin, Meta’s smart glasses and open-source AI pendants are already here. So what form factor will these geniuses cook up? No idea, but I’m waiting.