On the heels of Tom Cruise's deal with Warner Bros. announced just last month, he's set to star in Spanish director Alejandro Iñárritu's next film, according to The Hollywood Reporter.

Legendary Entertainment and Warner Bros. are currently in negotiations regarding the film, which will be Iñárritu's first English-language movie since 2015's The Revenant, which won the director an Academy Award and star Leonardo DiCaprio's first Oscar for Best Actor.

Details of the film are still under wraps. THR reported that it was written by Iñárritu, Sabina Berman, Alexander Dinelaris and Nicolás Giacobone.

When it was reported that Cruise had inked a massive non-exclusive deal with Warner Bros., there were speculations as to what it would it would entail. The actor was also rumored to be more eager to work with auteurs after having spent much of the last decade on tent-pole franchises such as Mission: Impossible and Top Gun from Paramount.

There's also speculations that he might be in Quentin Tarantino's final film, The Movie Critic. If it's proven true, it would be the first time that Cruise and Tarantino would work together.

Cruise has Mission: Impossible – Dead Reckoning Part Two in post-production and is currently in pre-production for an as-yet-untitled space movie for Universal and Doug Liman.

Could Iñárritu be Cruise's ticket to an Oscar statue?

Four-time Academy Award-winner Iñárritu's last feature was the 2022 Spanish-language drama Bardo for Netflix. Before that and The Revenant, this three Oscars were for 2014's Birdman or (The Unexpected Virtue of Ignorance) for Best Movie, Director and Original Screenplay.

Cruise has three Academy Award nominations: twice for Best Actor in Oliver Stone's 1990 film Born on the Fourth of July and Cameron Crowe's 1997 movie Jerry Maguire, and once for Best Supporting Actor in Paul Thomas Anderson's 2000 film Magnolia. Since Ińarritu directed DiCaprio's Oscar-winning turn in the Revenant and Michael Keaton's nomination for Birdman, this could be Cruise's play for the statuette.

Warner Bros. has been stacking its roster by picking up Ryan Coogler's next film, as well as greenlighting Thomas Anderson's DiCaprio movie. Next month, both Warners and Legendary will premiere Denis Villeneuve's Dune: Part Two, touted to be the critics' sci-fi darling of the decade.