Apple shares experienced a decline following the announcement that OpenAI is acquiring an AI-focused startup founded by Jony Ive, the former chief designer at Apple.

San Francisco

The release of Open AI's ChatGPT has accelerated the development of artificial intelligence and warnings about its impact on society.

Rise of AI

Apple shares experienced a decline following the announcement that OpenAI is acquiring an AI-focused startup founded by Jony Ive, the former chief designer at Apple. Ive, who left Apple in 2019, has since started a new company called LoveFrom (referred to as "I.O." in some reports), which is developing new hardware for the AI era. Several former Apple design executives, including Evans Hankey and Tang Tan, have reportedly joined Ive's venture, further linking the project to Apple's legacy of hardware innovation.

The collaboration between Jony Ive and OpenAI is said to focus on developing a new hardware device designed to integrate artificial intelligence in more seamless ways. Public statements from Ive and OpenAI CEO Sam Altman suggest the device could introduce a "new paradigm" for AI-enabled hardware, potentially reducing the reliance on traditional smartphones for accessing AI tools. This move coincides with broader commentary from Apple executives about the future of mobile devices, with one suggesting that advances in AI might eventually reduce the necessity of owning an iPhone.

Industry observers have noted that Apple's progress in artificial intelligence has faced challenges in recent years, with some product promises remaining unfulfilled. The announcement of Ive's new AI hardware venture, coupled with high-profile talent departures from Apple, has fueled speculation about increased competition in consumer technology design. The specifics of the forthcoming device have not been disclosed, but OpenAI and Ive have indicated that more details will be shared in the future.



Apple shares fall as iPhone designer's AI startup acquired by OpenAi

Welcome back and shares of Apple sliding to session lows today on this open A.I. deal to buy Johnny Ives A.I. startup. Steve Kovac is here with more and see. I mean it could have just been like the whole market sold off after the Treasury auction. Do you think it's just that or do you think this is really. That was part of it. You saw Apple take an even take a lower after this announcement came out. So let me explain why. Because Johnny Ive he's been gone from Apple for almost six years now. He left back in 2019. And since then Apple has kind of been leaderless without their in that design group. They had there's this woman named Evans Hankey who was running it right after Johnny Ive. But guess what. He posted her and she's now part of this company. That's going to be part of opening. There are a number of other design executives at Apple including someone named Tang Tan who is also poached over. And what we're learning today is that Johnny Ives new group he's calling it I.O. that's working on devices. They said they're sounding like they have a breakthrough. We're watching this video right now that Johnny Ive put up with Sam Altman and they're talking about. He even mentions these people by name saying hey we have this breakthrough that can new paradigm basically for hardware in this AI era. And this is coming from the guy Kelly who invented the iPhone. Oh totally. How can you have a breakthrough for AI. How can you have a hardware breakthrough for it to do. Right. Exactly. And that's what Sam Altman in this video is talking about. He says you know it's really hard when you want to ask a question. You probably experience this. You have to open it up. You have to type open up the Web browser and type things in. And they're kind of hinting at this kind of background device that is all maybe always listening or always on. And it's easier to ask questions to your device. And it's easy for me on my phone. I just hit the chat GPT ever. I hit Grock and Grock will say if I start dictating it goes you just want to talk to me. You don't want another device Kelly. But let me quote Eddie Q an Apple executive who was testifying in this Google trial a couple of weeks ago a couple of weeks ago. He said in 10 years you might not need an iPhone because of AI. He said that the iPhone company is saying you might not need an iPhone. And here we are a company open AI saying we have a breakthrough here. We're going to show you next year what this magical hardware product that the designer of the iPhone came up with. Look there are a lot of people who would love to be untethered from their iPhone. Like there's a societal hunger. Right. I know people who lock the device away on Friday nights and teens and kids and all the rest of it. So I guess from that point of view I could see a market fit. This also comes as we're hearing more about Apple's stalled efforts on the front. Exactly. And so you've got a double whammy here. You have Johnny Ive legend right in the design hardware group. And then you have this A.I. mess from Apple where it over promise and just did not deliver on artificial intelligence and no clue when that is actually going to come to fruition. All those promises that they made at the same time to your point about I'm tired of looking at my iPhone. I'm looking at too much. Johnny Ive has talked about that. In fact very recently has been saying I kind of helped create this problem. Now I'm trying to fix it. Yeah. And we're going to see what that looks like next year. What is like the Frankenstein. You know the analogy. I totally understand how that must feel for him to at once have created the most important exactly that now people are. You know it's the new cigarette. I've created a monster. Yeah. Steve. Thanks. Appreciate it. Steve Kovac.

Talks between the U.S. President and Russian President Vladimir Putin concluded without an agreement on ending the war in Ukraine, despite being widely anticipated as a possible turning point.

Anchorage

Ukraine Invasion

Zelenskyy set to meet U.S. president Monday after no ceasefire deal

For the first time in a decade, Vladimir Putin was on U.S. soil for a much-anticipated meeting with Donald Trump. The U.S. and Russian presidents were supposed to discuss a deal to put an end to Moscow’s war against Ukraine, but they did not mention a ceasefire after the talks.

Trump, Putin wrap up talks with no mention of ceasefire

President Trump and Russian President Vladimir Putin met in Alaska for a high-stakes summit over ending the war in Ukraine. Nancy Cordes and Margaret Brennan have coverage and analysis.

What we know about the high-stakes summit between Trump and Putin

U.S. President Donald Trump and Russia's Vladimir Putin have arrived in Alaska ahead of their high stakes talks on Ukraine. The expected one-on-one meeting between Trump and Putin has expanded to include U.S. officials Steve Witkoff and Marco Rubio and other Russian officials.

Trump, Putin arrive in Alaska for historic summit

Israel's far-right finance minister approved the construction of a controversial new settlement in the West Bank, saying it "finally buries the idea of a Palestinian state." But it's unclear if this move will actually go through. Rights groups swiftly condemned the plan.

Jerusalem

Middle East Conflict

Israeli finance minister approves new West Bank settlement

U.S. President Donald Trump indicated in an interview that he hoped to push Russian President Vladimir Putin toward a second meeting but acknowledged there was a chance Friday’s meeting would not succeed.

Washington

Trump shifts tone, confident on deal to end Ukraine war

Israeli Finance Minister Bezalei Smotrich said a plan to add more than 3,000 homes to a controversial settlement in the West Bank would bury ‘the idea of a Palestinian state.’

Israel furthers plan for settlement that divides the West Bank

Ukrainian President Volodymyr Zelenskyy met with British Prime Minister Keir Starmer in London. This comes one day before U.S. President Donald Trump is set to meet with Russian President Vladimir Putin in Alaska to discuss a possible ceasefire in Ukraine.

London

Zelenskyy, Starmer meet ahead of Trump, Putin summit in Alaska

Speaking in the Oval Office on Thursday, President Trump sounded optimistic about his upcoming summit with Russian President Vladimir Putin in Alaska.

Trump says he thinks Putin and Zelenskyy will make peace

Florida Gov. Ron DeSantis has announced plans to build another immigrant detention center, dubbing it the "Deportation Depot." The facility will be in North Florida.

Jacksonville

DeSantis announces plan to build another immigrant detention center

President Trump had a virtual call Wednesday with Ukrainian President Volodymyr Zelenskyy ahead of his meeting with Russian President Vladimir Putin on Friday in Alaska. After the call, Zelenskyy said he told Mr. Trump that "Putin is bluffing."

Ukraine's Zelenskyy warns President Trump ahead of meeting with Putin

U.S. President Donald Trump said he would ask the Republican-controlled Congress to extend federal control of Washington's city police force beyond 30 days, escalating his campaign to exert presidential power over the nation's capital.

Trump wants to extend federal control over Washington police

With just hours left to reach a deal on plastics, negotiators in Geneva were scrambling to resolve a deadlock caused by “red lines” of member countries. Nations are crafting the first global, legally binding treaty on plastics pollution at the United Nations office in Switzerland.

Geneva

Global plastics treaty talks in Geneva stall as deadline looms

At least 123 people have been killed in 24 hours, according to Gaza's Health Ministry. Israeli Prime Minister Benjamin Netanyahu says people will be given the opportunity to leave Gaza before a planned ground offensive, but no one is being pushed out.

Israeli strikes pound Gaza ahead of planned ground offensive

America's NATO allies stood firmly with Ukrainian President Volodymyr Zelenskyy ahead of the face-to-face meeting between President Trump and Russian President Vladimir Putin in Alaska. The European leaders showed a united front that there should be no peace deal without Ukraine's involvement.

Kyiv

NATO allies stand with Ukraine ahead of Trump-Putin summit

U.S. Immigration and Customs Enforcement must improve conditions for detainees at New York's 26 Federal Plaza, a judge ruled Tuesday.

New York

Judge rules ICE must improve conditions for detainees at NY facility

National Guard troops arrived in Washington, D.C., following President Donald Trump's deployment and federalization of local police to crack down on crime in the nation's capital.

National Guard troops arrive in Washington, D.C.

U.S. President Donald Trump said that he had a "very good call" with Ukrainian President Volodymyr Zelenskyy, days before his scheduled Alaska meeting with Russian President Vladimir Putin.

Trump had 'very good call' with Zelenskyy ahead of Putin meeting

Israel's military chief of staff, Lt. Gen. Eyal Zamir, has approved the framework of a plan for a new offensive in Gaza. CBS News Middle East reporter Courtney Kealy has more details.

Israeli military chief approves 'framework' for new Gaza offensive

President Donald Trump said Wednesday there will be “very severe consequences” if Russian President Vladimir Putin doesn’t agree to stop the Ukraine war after Friday’s summit.

Trump warns of 'severe consequences' if Russia doesn't stop war

A Wisconsin woman on Tuesday was found guilty in the United Kingdom of trying to kill a man at point-blank range in 2019. Aimee Betro, 45, was part of a plot with two other co-conspirators to murder Sikander Ali, prosecutors said.

Birmingham

American woman found guilty of UK murder-for-hire plot

Record-high temperatures across Europe are fanning wildfires across the continent. Experts say a warming climate and an increase in flammable vegetation from rural depopulation are major factors.

Madrid

Historic heat fuels fires across Europe

Hungary's PM Viktor Orbán said the EU attempts to set conditions for a meeting to which leaders of the EU were not invited. He also called for an EU-Russia summit.

Brussels

EU leaders rally behind Ukraine ahead of Trump-Putin talks

President Trump said Monday he expects that Russia and Ukraine will "land swap" certain territories as part of an eventual ceasefire deal. Mr. Trump is set to meet with Russian President Vladimir Putin in Alaska on Friday.

Trump claims 'land swapping' between Russia, Ukraine will happen

Taylor Swift confirmed her 12th studio album, "The Life of a Showgirl," in a teaser for her upcoming appearance on her boyfriend Travis Kelce's podcast. Swift did not disclose the release date of the album.

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U.S. President Donald Trump said that his planned meeting with Russian President Vladimir Putin in Alaska on Friday will be to "feel out" the leader as pressure mounts for Russia and Ukraine to make a peace deal.

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