Well, this is a big development! According to Polish site interia, Microsoft has entered an agreement to develop a new AAA Xbox title with People Can Fly; the team behind Outriders, Gears of War: Judgment and other multiplatform titles.
According to the report, 'Project Maverick' has been allocated a budget of roughly 30-50 million dollars, and will be a game "based on the intellectual property rights of the publisher" - in this case Microsoft.
We're not sure if that means the title will be based on an existing Xbox IP, or whether the partnership will spawn a new IP, but it'll seemingly be under Xbox ownership either way. Microsoft looks to be throwing some serious weight behind the project too.
People Can Fly's last game was 2021's Outriders, followed up by last year's huge 'Worldslayers' expansion for the co-op third person shooter. Hopefully we hear more details on Project Maverick soon - some official confirmation from Xbox would be lovely.