OpenAI CEO Sam Altman is reportedly backing an AI startup named Alfred.

The startup, led by former employees of Tesla Inc.

(NASDAQ:TSLA) and Meta Platforms (NASDAQ:META), is also receiving financial backing from Khosla Ventures, SV Angel, and Chapter One, among others, reported Business Insider on Monday.

Alfred is aiming to raise funds at a $40 million valuation.

The startup, co-founded by Ankit Ukil, a former Tesla designer, and Dömötör Gulyas, an ex-engineer at Meta Reality Labs, is focusing on the development of physical AI.