Jony Ive, Apple’s former head of design, will take over design at OpenAI after the Sam Altman-led company acquired Ive’s hardware startup in a deal valued at $6.5 billion, with the new pairing expected to unveil a product within the next year as a potential competitor to Ive’s former employer.

The AI guy is teaming up with the iPhone guy, and they’re trying to make the iPhone of AI.

The deal comes as the tech industry has been looking for its next hardware hit after the iPhone and takes particular aim at Apple, which some say has been moving too slowly to incorporate AI into its...