An anonymous reader cites a report from Ars Technica. Former Apple design leader Jony Ive and current OpenAI CEO Sam Altman are teaming up to create a new company that will make “personal devices powered by artificial intelligence,” according to The Information's sources familiar with the plans. They are seeking funding for. Sources say the exact nature of the device is unknown, but it does not resemble a smartphone. We first heard about the venture in the fall of 2023, but an article in The Information revealed that negotiations were underway to get the company off the ground.
Mr. Ive and Mr. Altman hope to raise at least $1 billion for the new company. The full list of potential funding sources they have negotiated is unclear, but The Information's sources say Thrive Capital, which is a frequent investor in OpenAI, and Emerson Collective, the venture capital firm founded by Laurene Powell Jobs. It is said that negotiations are currently underway. SoftBank CEO and super-investor Masayoshi Son is also said to have spoken with Altman and Ive about the venture. The Financial Times previously reported that Son wanted Arm, another company he backs, to join the project. […] In addition to OpenAI, Altman has already dabbled in several AI ventures. The Information reports that there is no indication yet that OpenAI will be directly involved with the new hardware company.
