Jony Ive, the iconic designer behind Apple products, has officially confirmed that he’s working on a new AI-powered hardware device in collaboration with OpenAI CEO Sam Altman. This exciting news came to light today in a profile of Ive published by The New York Times, shedding light on the much-rumored project after whispers of their partnership first surfaced nearly a year ago.

While details about the project remain sparse, what we do know is that it’s being driven by some of the most innovative minds in tech. According to reports, Ive and Altman met through Airbnb CEO Brian Chesky, and the project is backed by the Emerson Collective, Laurene Powell Jobs’ company. The venture is reportedly on track to secure up to $1 billion in funding by the end of the year. However, there’s no mention of Masayoshi Son, the SoftBank CEO who was previously rumored to have invested heavily in the project.

At the moment, the team working on this mysterious AI device is quite small—just 10 employees. But this isn’t just any group of developers. Key team members include Tang Tan and Evans Hankey, both of whom were instrumental in the creation of the iPhone. The design efforts are being led by LoveFrom, the design company Ive founded after leaving Apple. Currently, they’re working out of a massive 32,000-square-foot office space in San Francisco, part of a $90 million real estate acquisition by Ive that covers an entire city block.

So, what exactly is this device? That remains one of the biggest questions. According to The Times, Ive and Altman have discussed how generative AI could revolutionize the way people interact with computers. Their vision is to create a device that can handle complex tasks far beyond the capabilities of traditional software. It’s rumored that last year’s discussions were inspired by touchscreen technology, potentially taking cues from the original iPhone.

However, it seems like things are still very much in the early stages. LoveFrom cofounder Marc Newson shared with The Times that many aspects of the product—its final design, features, and even its launch timeline—are still being worked out.

In any case, the pairing of Jony Ive’s design brilliance with Sam Altman’s AI vision has the potential to shake up the tech world. Whether it’s a revolutionary AI assistant or a device that redefines our interaction with technology, this is definitely a collaboration worth keeping an eye on.