Former Apple designer Jony Ive and OpenAI’s Sam Altman are in advanced talks with SoftBank’s Masayoshi Son to launch a $1 billion venture to build “the iPhone of artificial intelligence,” according to the Financial Times. The news follows a report on Wednesday that claimed Ive and Altman are in discussions about creating an AI gadget.

According to FT, Altman wants Ive’s design agency LoveFrom to help develop the ChatGPT creator’s first consumer device.

For more on this story, read the full report at MacRumors.