Former Apple design chief Jony Ive and OpenAI's Sam Altman are working on a top-secret AI computing project

Ive, who designed the iPhone and iPad, among other Apple products, is teaming up with Altman, CEO of the company behind ChatGPT and Dall-E, to create a new AI-powered computing device that aims to be "less socially disruptive than the iPhone," according to The New York Times.

Few details are known about the AI device but Ive and Altman have already raised funding for the project from investors including Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, the report said. Funding reportedly could be up to $1 billion by the end of the year.

Ive's design firm LoveFrom, which he co-founded after leaving Apple five years ago, is behind the development of the AI-powered device. The company -- which was co-founded by Mark Newson, a well-known luxury designer who worked on the Apple Watch --employs other former Apple executives, including Tang Tan, who oversaw iPhone development. LoveFrom works with clients such as Airbnb and Ferrari.

Newson told the Times that "what the product would be and when it would be released were still being determined."

The partnership started over a number of dinners when Ive and Altman discussed the power of generative AI and its potential for computing devices, the report said. 

The concept of an AI-powered device follows the introduction this year of a handful of devices that have yet to take off. The $700 Humane AI pin -- which turns surface areas, including your hand, into a mobile screen -- was met with mixed reviews, and people are reportedly returning the product in high numbers. The $199 Rabbit R1 handheld device, which uses AI to complete tasks, also fell short of expectations.

Meanwhile, companies including Google and Samsung have been adding generative AI capabilities to their phone lineups. Just last week, Apple's new iPhone 16 devices went on sale, with the company's Apple Intelligence features set to begin arriving on them in the coming weeks and months.

But at a time when we're so heavily distracted by mobile devices, one that offers a more mindful, less distracting experience could be appealing for consumers.