The companies are working on something dubbed Project Amethyst.
PlayStation 5 Pro just launched on November 7 of this year. Lead architect on both it and the original PS5 Mark Cerny broke down the changes that the former brings to the table in a new technical seminar that was delivered at SIE headquarters in San Mateo, California. The presentation, which you can watch below via PlayStation's official YouTube channel, is roughly 37 minutes long and elaborates on a bunch of different details about PS5 Pro. However, the most interesting aspect of the talk arguably comes at the 34:36 mark of the video:
It's at this point that Cerny reveals a new partnership between PlayStation and AMD called Amethyst (which Cerny says is named after the mixing of PlayStation and AMD's signature colors). This project aims to innovate with machine learning and AI in order to "democratize" the technology and allow for devs to better utilize it for graphics and gameplay. Another goal of the project is to foster "more extensive use of ray tracing and path tracing" in game development. While that's all certainly noteworthy, what is perhaps more so is the notion that this likely means the two companies are pairing up for what will eventually become PlayStation 6.
There was already scuttlebutt that Sony would be turning to AMD for help with PS6 and the rumored new PlayStation handheld that we reported on back in November. Given this partnership with AMD is expected to be multiyear, it would dovetail nicely with the eventual release of both pieces of hardware, which aren't expected until years from now. While certainly a hot button topic, AI is already making a mark within game development, and based on Cerny's talk it's likely going to be at the heart of PS6's architecture—for better or worse.
Source: PlayStation YouTube Channel