The all-stock deal with OpenAI values Ive’s AI hardware startup io at $6.5 billion—and is set to be a major windfall for the man who designed the iPhone.

Here’s what we know: it’s probably not smart glasses. Beyond that, we don’t know much about what Jony Ive and OpenAI are building through their newly combined company io, except that it’s some kind of AI super-gadget. But after a couple of years of watching the industry try and shove AI into every form factor you can imagine, we have some guesses.