OpenAI scrubs mention of Jony Ive partnership after judge's ruling over trademark dispute
OpenAI last month announced it was buying io Products, a product and engineering company co-founded by Ive, in a deal valued at nearly $6.5 billion.
But it quickly faced a trademark complaint from a startup with a similarly sounding name, IYO, which is also developing AI hardware that it had pitched to Altman's personal investment firm and Ive's design firm in 2022.
U.S. District Judge Trina Thompson ruled late Friday that IYO has a strong enough trademark infringement case to proceed to a hearing in October. Until then, she ordered Altman, Ive and OpenAI to refrain from 'using the IYO mark, and any mark confusingly similar thereto, including the IO mark in connection with the marketing or sale of related products.'
OpenAI responded by scrubbing its website of mentions of the new venture, including a web page of the May 21 announcement.
In its place, the company had a message Monday that said the page 'is temporarily down due to a court order' and added: "We don't agree with the complaint and are reviewing our options.'
IYO CEO Jason Rugolo applauded the ruling Monday in a written statement that said the startup will aggressively protect its brand and tech investments.
"IYO will not roll over and let Sam and Jony trample on our rights, no matter how rich and famous they are,' Rugolo said.
——
The Associated Press and OpenAI have a licensing and technology agreement that allows OpenAI access to part of AP's text archives.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Morgan Stanley recalibrates its view on Apple stock ahead of earnings
Morgan Stanley recalibrates its view on Apple stock ahead of earnings originally appeared on TheStreet. Apple's () financial engine fires on more than just iPhones; of late, we've seen one high-margin segment punching above its weight. As it heads into its next earnings report, that trend could matter much more than expected. 💵💰💰💵 Also, if you follow the models, one firm's quiet recalibration might be the telltale sign of what's to come for Apple stock. Sometimes, it's the side businesses that steal the show. Apple's record quarter comes with a side of caution Apple opened fiscal 2025 with a couple of powerful beats, which surprisingly attracted a muted response from Wall Street. In the December quarter (Q1 2025), Apple posted all-time high sales of $124.3 billion, up 4% from a year ago, while delivering a $2.40 diluted EPS, representing a 10% jump. The March quarter (Q2 2025) then kept up that momentum, with $95.4 billion in sales, representing 5% growth year-over-year and a record $1.65 EPS for the period. The iPhone 16 was a smashing success, pushing iPhone revenue up 2% to $46.8 billion. Macs and iPads surprised, climbing 7% and 15%, it was Apple's Services segment that stole the show again, which is up 12% to $26.6 billion, thanks to App Store strength, Apple Music, and cloud offerings. Gross margins held near firm 47%, giving Apple a healthy cushion. Still, Tim Cook isn't ignoring the risks. He said that potential U.S. tariffs could shave up to $900 million off quarterly profit. In response, Apple's been ramping up iPhone assembly in India and Vietnam to efficiently spread out its supply chain risk. It's also embracing AI with open arms. Over the holidays, it rolled out 'Apple Intelligence,' layering in generative features into iOS, such as smarter Siri prompts and AI-edited photos. Nonetheless, a pending antitrust ruling could force App Store changes that significantly impact in-app revenues. More Stock News: Top economist drops 6-word verdict on Trump tariffs, inflation JPMorgan reveals 9 stocks with major problems Bank of America quietly reboots Microsoft stock price target That said, in reassuring its investors, Apple announced a whopping $100 billion buyback and raised its dividend to 26 cents per share. Nevertheless, the stock is still down about 15% year to date. Apple stock gets a boost from App Store surprise Ahead of its Q3 earnings report in a few days, Apple just got a jolt from a familiar cash cow in the App Store. According to Morgan Stanley, App Store sales in the U.S. surged 12.5% year-over-year through the first 20 days of July. That's a healthy increase from June's 11.5% gain, and shows no signs of slowing at this point. What's remarkable is that it comes even after the recent Epic Games v. Apple ruling, which many feared could dent monetization. Globally, App Store performance is just as encouraging. Revenue is up 7.1% year-over-year in China and 21% across other international markets, despite a relatively small 1.9% dip in Japan If the quarter ended today, Morgan Stanley forecasts App Store revenue would be pacing at 12.6% growth, significantly more than the previous 11%. That difference matters. Based on current trends, Morgan Stanley forecasts $160 million in potential upside to Apple's September-quarter Services segment. Additionally, Morgan Stanley analyst Erik Woodring says the monetization fears over Apple in terms of its apps business, post-lawsuit, are mostly overblown. 'After more than two months since the Apple vs. Epic injunction, we still have not seen meaningful impact on Apple's ability to monetize the U.S. App Store, despite the link-out risk,' he wrote. With investors laser-focused on Apple's high-margin Services revenue, the App Store's resilience could be the start of something big for the tech giant. It also underscores the company's growing dependence on recurring digital income at a time when iPhone upgrade cycles remain stretched. Nonetheless, Apple is set to report Q3 results next week, and Wall Street expects earnings per share of $1.43 on $88.89 billion in revenue. If App Store momentum holds, these estimates will likely appear much more Stanley recalibrates its view on Apple stock ahead of earnings first appeared on TheStreet on Jul 22, 2025 This story was originally reported by TheStreet on Jul 22, 2025, where it first appeared.
The Hill
3 hours ago
- The Hill
Trump announces trade deal with Japan that lowers threatened tariff to 15%
WASHINGTON (AP) — President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, adding that the United States 'will continue to always have a great relationship with the Country of Japan.' The president said Japan would invest 'at my direction' $550 billion into the U.S. and would 'open' its economy to American autos and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1. With the announcement, Trump is seeking to tout his ability as a dealmaker — even as his tariffs, when initially announced in early April led to a market panic and fears of slower growth that for the moment appear to have subsided. Key details remained unclear from his post, such as whether Japanese-built autos would face a higher 25% tariff that Trump imposed on the sector. But the framework fits a growing pattern for Trump, who is eager to portray the tariffs as win for the U.S. His administration says the revenues will help reduce the budget deficit and more factories will relocate to America to avoid the import taxes and cause trade imbalances to disappear. But the wave of tariffs continues to be a source of uncertainty about whether it could lead to higher prices for consumers and businesses if companies simply pass along the costs. The problem was seen sharply Tuesday after General Motors reported a 35% drop in its net income during the second quarter as it warned that tariffs would hit its business in the months ahead, causing its stock to tumble. As the Aug. 1 deadline for the tariff rates in his letters to world leaders is approaching, Trump also announced a trade framework with the Philippines that would impose a tariff of 19% on its goods, while American-made products would face no import taxes. The president also reaffirmed his 19% tariffs on Indonesia. The U.S. ran a $69.4 billion trade imbalance on goods with Japan last year, according to the Census Bureau. America had a trade imbalance of $17.9 billion with Indonesia and an imbalance of $4.9 billion with the Philippines. Both nations are less affluent than the U.S. and an imbalance means America imports more from those countries than it exports to them. The president is set to impose the broad tariffs listed in his recent letters to other world leaders on Aug. 1, raising questions of whether there will be any breakthrough in talks with the European Union. At a Tuesday dinner, Trump said the EU would be in Washington on Wednesday for trade talks. 'We have Europe coming in tomorrow, the next day,' Trump told guests. The president earlier this month sent a letter threatening the 27 member states in the EU with 30% taxes on their goods to be imposed starting on Aug. 1. The Trump administration has a separate negotiating period with China that is currently set to run through Aug. 12 as goods from that nation are taxed at an additional 30% baseline. Treasury Secretary Scott Bessent said he would be in the Swedish capital of Stockholm next Monday and Tuesday to meet with his Chinese counterparts. Bessent said his goal is to shift the American economy away from consumption and to enable more consumer spending in the manufacturing-heavy Chinese economy. 'President Trump is remaking the U.S. into a manufacturing economy,' Bessent said on the Fox Business Network show 'Mornings with Maria.' 'If we could do that together, we do more manufacturing, they do more consumption. That would be a home run for the global economy.'
San Francisco Chronicle
3 hours ago
- San Francisco Chronicle
Trump announces trade deal with Japan that lowers threatened tariff to 15%
WASHINGTON (AP) — President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, adding that the United States 'will continue to always have a great relationship with the Country of Japan.' The president said Japan would invest 'at my direction' $550 billion into the U.S. and would 'open' its economy to American autos and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1. With the announcement, Trump is seeking to tout his ability as a dealmaker — even as his tariffs when initially announced in early April led to a market panic and fears of slower growth that for the moment appear to have subsided. Key details remained unclear from his post, such as whether Japanese-built autos would face a higher 25% tariff that Trump imposed on the sector. But the framework fits a growing pattern for Trump, who is eager to portray the tariffs as win for the U.S. His administration says the revenues will help reduce the budget deficit and more factories will relocate to America to avoid the import taxes and cause trade imbalances to disappear. But the wave of tariffs continues to be a source of uncertainty about whether it could lead to higher prices for consumers and businesses if companies simply pass along the costs. The problem was seen sharply Tuesday after General Motors reported a 35% drop in its net income during the second quarter as it warned that tariffs would hit its business in the months ahead, causing its stock to tumble. As the Aug. 1 deadline for the tariff rates in his letters to world leaders is approaching, Trump also announced a trade framework with the Philippines that would impose a tariff of 19% on its goods while American-made products would face no import taxes. The president also reaffirmed his 19% tariffs on Indonesia. The U.S. ran a $69.4 billion trade imbalance on goods with Japan last year, according to the Census Bureau. America had a trade imbalance of $17.9 billion with Indonesia and an imbalance of $4.9 billion with the Philippines. Both nations are less affluent than the U.S. and an imbalance means America imports more from those countries than it exports to them. The president is set to impose the broad tariffs listed in his recent letters to other world leaders on Aug. 1, raising questions of whether there will be any breakthrough in talks with the European Union. At a Tuesday dinner, Trump said the EU would be in Washington on Wednesday for trade talks. The Trump administration has a separate negotiating period with China that is currently set to run through Aug. 12 as goods from that nation are taxed at an additional 30% baseline. Treasury Secretary Scott Bessent said he would be in the Swedish capital of Stockholm next Monday and Tuesday to meet with his Chinese counterparts. Bessent said his goal is to shift the American economy away from consumption and to enable more consumer spending in the manufacturing-heavy Chinese economy. 'President Trump is remaking the U.S. into a manufacturing economy,' Bessent said on the Fox Business Network show 'Mornings with Maria.' 'If we could do that together, we do more manufacturing, they do more consumption. That would be a home run for the global economy.'
