Former Apple exec and design veteran Jony Ive has confirmed that he is working with OpenAI CEO Sam Altman on an AI hardware venture. The news was a part of Ive’s interview with The New York Times, a year after the collaboration was first reported. 

While Ive didn’t give out many details, the report said that the project could raise $1 billion in funding by this year-end with Ive himself and Laurene Powell Jobs’ Emerson Collective reportedly investing. 

According to the story, Ive ended up meeting Altman through Brian Chesky, the CEO of Airbnb. 

Ive’s firm LoveFrom will be looking after the design and described the goal of the venture as “a product that uses A.I. to create a computing experience that is less socially disruptive than the iPhone.” 

The report mentioned how Ive and Altman wanted to use generative AI to build a new computing device since it could do more for users than traditional software.

Currently, the project has just 10 employees working on it including people like Tang Tan and Evans Hankey, both of whom had previously worked with Ive on the iPhone design.