Klarna CEO and Sutter Hill Celebrate Success Following Jony Ive’s Game-Changing OpenAI Partnership | TechCrunch

On Wednesday, Sam Altman and Jony Ive announced that OpenAI is acquiring Ive’s company, io, in a deal worth $6.5 billion in stock. Shortly after, Klarna’s CEO, Sebastian Siemiatkowski, shared a surprising message on X.

Six months ago, his investment firm, Flat Capital, purchased shares in io. In an all-stock deal, those shares will now convert into shares of OpenAI’s for-profit arm. Siemiatkowski expressed his excitement about this investment on social media, noting that it would bring a significant return.

His tweet sparked a lot of interest, leading Flat Capital to confirm that they had indeed invested 34 million SEK (approximately $3.6 million) in io. This announcement clarified that io was the unnamed company they had previously backed in a portfolio of U.S. AI firms.

Adding to the intrigue, Luke Wroblewski, a former Googler now with Sutter Hill Ventures, tweeted about the acquisition, congratulating io and mentioning that Sutter Hill Ventures was also an investor. However, he later deleted his post, which fueled speculation about Sutter’s standing as a major player in the investment.

Interestingly, OpenAI itself held a substantial stake in io—around 23%, valued at $1.5 billion. This means OpenAI spent about $5 billion to acquire the remaining shares. Other investors included major names like Laurene Powell Jobs’ firm and Thrive Capital.

The buzz surrounding this acquisition highlights the growing interest in AI technology. According to a recent survey by McKinsey, nearly 50% of companies are integrating AI into their operations, reflecting the vital role AI is expected to play in the future of business.

As the landscape of AI evolves, these high-stakes deals illustrate not just the financial potential but also the increasing competition among tech giants. The excitement around investments in AI highlights how rapidly the industry is changing, with key players racing to secure their place in this transformative market.

For more details, you can check sources like Bloomberg, which provides in-depth coverage of these developments.

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jony ive,OpenAI fund,Sebastian Siemiatkowski,sutter hill ventures