Microsoft (MSFT)-backed ChatGPT maker OpenAI announced plans on Wednesday to acquire io, the artificial intelligence startup launched by former Apple (AAPL) design head Jony Ive.

The all-stock deal is valued at just under $6.5 billion, with OpenAI paying༒ $5 billion after accounting for its existing stake in the company. The companies said in a Wednesday blog post that the “creative collective” started by Ive, LoveFrom, started collabora💫ting with OpenAI two years ago.

“It became clear that our🦂 ambitions to develop, engineer and manufacture a new family of products demanded an entirely new company,” Ive and OpenAI CEO Sam Altman said in the post.

“As io merges with OpenAI, Jony and LoveFrom w🥃ill assume deep design and creative responsibilities across OpenAI and ios,” they said, with plans to debut their first produc♏t next year.

Altman said on social media Wednesday that the companies aim to “try to create a new generation of AI-powered computers.”