Eidos Montreal just let slip one of gaming’s biggest mysteries. A senior environment artist updated their LinkedIn profile mentioning work on an unannounced ‘AAAA Game Project’ using Unreal Engine 5 and Maya. The revelation comes just weeks after rumors surfaced about the studio’s massive open-world action adventure codenamed P11, suggesting Eidos Montreal has multiple high-profile projects in the works despite recent layoffs.
The term ‘AAAA’ isn’t hyperbole – industry insiders increasingly use it to describe games with budgets and scopes beyond traditional AAA titles. Think Grand Theft Auto 6 or Starfield levels of investment. For Eidos Montreal to publicly reference such a project suggests it’s far enough along to show real progress, even as the studio supports Microsoft Game Studios on Fable and Grounded 2.
Eidos Montreal’s Complicated Recent History
The studio behind Deus Ex: Human Revolution, Shadow of the Tomb Raider, and Marvel’s Guardians of the Galaxy has had a rollercoaster few years. Acquired by Embracer Group in 2022 alongside Crystal Dynamics, Eidos Montreal faced significant layoffs – first 75 employees in March 2025, then another dozen in December focused on design, art, and production roles.
Despite the cuts, insiders like Tom Henderson reported in December 2025 that Eidos Montreal was ramping down headcount on their six-year-old open-world project P11 as it approached beta. The same team behind Shadow of the Tomb Raider has reportedly completed conceptualization and core systems, targeting a 2026 release. Now this new AAAA project suggests either a second major title or rebranding of existing work.
What Could This AAAA Game Be?
The LinkedIn leak provides few specifics beyond Unreal Engine 5 usage, but context offers clues:
- Unreal Engine 5: Confirms cutting-edge visuals and open-world capabilities
- Senior Environment Artist: Heavy focus on detailed world-building
- AAAA Classification: Massive budget, likely 200+ million dollars
- Eidos Montreal Expertise: Narrative-driven action adventures
Fan speculation ranges wildly. Some hope for Deus Ex revival after the 2024 cancellation of Deus Ex: Revival. Others point to the studio’s Tomb Raider work, though Crystal Dynamics leads new Lara Croft projects. The timing aligns with Embracer’s plan for five AAA games from Crystal Dynamics and Eidos Montreal by March 2028.
Eidos Montreal’s Current Workload
| Project | Publisher | Status |
|---|---|---|
| Fable Reboot | Xbox Game Studios | Co-development with Playground Games |
| Grounded 2 | Xbox Game Studios | Lead development with Obsidian |
| P11 (Open World Action) | Embracer Group | Beta phase, 2026 target |
| AAAA Unreal 5 Project | Unknown | Active development |
This table reveals Eidos Montreal’s dual role as both Embracer’s proprietary developer and Microsoft’s go-to support studio. Grounded 2’s creative director confirmed Eidos Montreal handles most heavy lifting, while Fable benefits from their narrative expertise honed on Guardians of the Galaxy.
What AAAA Really Means in 2026
The industry shifted terminology as PS3/Xbox 360 era AAA games (50-100M budgets) evolved into modern behemoths. AAAA now signifies:
- 200M+ development budgets
- 5+ year development cycles
- 300+ person teams
- Unreal Engine 5 / proprietary tech
- Open world scope
- Live service consideration
Eidos Montreal calling their project AAAA suggests confidence in scope and funding. Given Embracer’s financial pressures and recent studio sales, this represents a major bet on the studio’s future.
Challenges Ahead for Eidos Montreal
Recent layoffs coincide with project milestones, following industry patterns where studios cut headcount after reaching beta. However, Eidos Montreal’s outsourcing reputation raises concerns – can they deliver multiple proprietary AAA titles while supporting Microsoft?
The studio’s last major proprietary release, Marvel’s Guardians of the Galaxy (2021), earned critical acclaim but modest sales. Shadow of the Tomb Raider succeeded commercially but split fan reception. Success with this AAAA project could cement Eidos Montreal as a top-tier studio; failure risks further layoffs or restructuring.
FAQs
What is Eidos Montreal’s AAAA game?
The studio is developing an unannounced Unreal Engine 5 project described as AAAA scope. A senior environment artist’s LinkedIn profile first revealed the information. Details remain scarce beyond the tech stack and classification.
Is this related to Deus Ex?
Unlikely. Eidos Montreal canceled Deus Ex: Revival in 2024. No recent Deus Ex rumors have surfaced, and the studio’s focus appears split between Microsoft support work and Embracer projects.
Why AAAA instead of AAA?
AAAA reflects modern industry reality – games now require 2-3x the budget of PS3/Xbox 360 AAA titles. Think Starfield, Horizon Forbidden West, or Assassin’s Creed Valhalla scale. The term acknowledges unprecedented development costs.
What happened to Eidos Montreal’s layoffs?
75 employees cut in March 2025, 12+ more in December 2025. Layoffs targeted design, art, and production as the P11 project approached beta. Industry standard practice when projects transition from full production to polish.
Will this be Xbox exclusive?
No evidence suggests exclusivity. Eidos Montreal works with both Embracer proprietary projects and Microsoft support. Guardians of the Galaxy released multiplatform. Expect similar treatment unless announced otherwise.
When might we see this game announced?
The Game Awards 2026 (December) or Summer Game Fest 2027 seem likely. P11 targets 2026 release, suggesting this AAAA project follows 1-2 years behind. Unreal Engine 5 polish suggests late development stage.
Can Eidos Montreal handle all these projects?
They’re stretched thin between Fable, Grounded 2, P11, and this AAAA title. Recent layoffs indicate resource reallocation. Success depends on Embracer funding stability and Microsoft partnership scope.
The Stakes Couldn’t Be Higher
Eidos Montreal stands at a crossroads. The AAAA reveal signals ambition matching their pedigree, but recent turbulence casts doubt. Deus Ex: Human Revolution remains a high-water mark for narrative action games; Guardians of the Galaxy proved their Marvel chops. Now they aim higher than ever.
If this Unreal Engine 5 project delivers on AAAA promise, Eidos Montreal could join Rocksteady, Santa Monica, and Naughty Dog in the elite tier. Failure risks becoming another cautionary tale of studio overreach amid industry consolidation. With Embracer demanding five major releases by 2028, all eyes watch Montreal’s next move.