business

Jon Keegan5/21/25

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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United Airlines posts stronger-than-expected profit, but weaker sales in its third quarter

United’s full-year profit outlook falls somewhere in between the dual forecasts it issued back in April.

United Airlines Airplanes at Newark Liberty International Airport in Newark, New Jersey

Hyunsoo Rim, David Crowther

Pop-Tarts, Doritos, and Uncrustables have joined the protein craze taking over America’s snack aisle

Food giants are catching up with the latest diet obsession.

Pop tarts protein

US-ENTERTAINMENT-ILLUSTRATION-APPLE TV+

Apple TV dropped the “plus” as streamers keep pulling back on originals

After the spray-and-pray approach led to a wave of cancellations, Hollywood is settling into an era of just making fewer shows.

business

Max Knoblauch10/14/25

The average price of a new vehicle in the US passed $50,000 for the first time ever in September

The average price of a new vehicle in the US surpassed $50,000 in September, according to Cox Automotive’s Kelley Blue Book.

At $50,080, that’s the highest industry average ever, reflecting the price hikes faced by new car buyers in recent years amid pandemic supply shortages, tariff-induced increases, and the high cost of EV production. The figure marks a 3.6% jump from the same month last year.

“Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory,” Cox executive analyst Erin Keating said. Passing the $50,000 mark was inevitable, Keating said, especially considering that the country’s bestseller is a Ford truck that “routinely costs north of $65,000.”

Year over year, new vehicle prices rose nearly 6% for GM, while Ford’s climbed 2.5%. Volkswagen new prices were up 12.5%.

As prices climb, so do delinquencies on loans to borrowers with lower credit scores. Recent data from Fitch Ratings shows the portion of subprime US auto loans 60 days or more overdue reached 6.43% in August.

business

Nia Warfield10/14/25

Alibaba slides as the e-commerce giant’s cloud arm reportedly plans to slash overseas prices

Alibaba slipped more than 3% Tuesday morning following reports that its cloud unit will cut prices of select Elastic Compute Service products by up to 10.2% in overseas markets including Frankfurt, Tokyo, and Dubai.

The cuts, effective October 30, reflect the company’s push to expand its global footprint. The moves reflect a more targeted regional approach for the company as it seeks to strengthen its footprint in Europe and Asia. Alibaba Cloud made similar price cuts on international cloud products last year.

Competition is hot: Alibaba Cloud sits behind behemoths Amazon, Microsoft, and Google in the global cloud race, coming in fourth worldwide, according to data from Gartner.

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