Jony Ive, Sam Altman aiming to raise $1 billion for new AI-powered device

A new report from The Information has shed more light on the partnership between former Apple design chief Jony Ive and Open AI CEO Sam Altman. Originally thought to be a new AI-based smartphone, the two have partnered on a new startup focused on developing an artificial intelligence-powered device that could be more akin to the Humane Ai Pin. Altman, incidentally, is already a major backer of Humane, already establishing his credentials in bringing the AI power behind OpenAI products like ChatGPT wrapped in a consumer-ready device.

The pair’s startup, which is yet to be publicly announced, is reportedly in advanced discussions with some of the biggest names in venture capital and technology investment. A key player in these talks is Arm owner SoftBank, whose CEO Masayoshi Son is said to have shown strong interest in backing the new venture. Along with OpenAI, other potential investors include Thrive Capital and the late Steve Jobs’ wife, Laurene Powell Jobs, through her venture capital and philanthropic firm called the Emerson Collective.

While specific details about the AI device are scarce, Ive and Altman are exploring new territories in AI hardware, potentially focusing on personal and home devices that could integrate AI into various aspects of daily life. One thing is certain, however; Ive has attracted over twenty of Apple’s former top designers to come work for his design house Love From, which means we can likely look forward to a device that makes a design statement when it eventually launches.