Ive, Altman Seek $1B for Mysterious New AI Company to Rival Apple
• Jony Ive (former Apple designer) and Sam Altman (OpenAI CEO) seeking $1 billion in funding for new AI-powered personal device company
• Device will not resemble a smartphone; exact nature unknown
• Potential backers include Thrive Capital, Emerson Collective (Laurene Powell Jobs), Masayoshi Son/SoftBank
• Pedigree of founders could scare off smaller investors due to high costs
• Ive's former employer Apple working on own advanced AI features for products, so new company would be a competitor