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Link here: https://www.youtube.com/watch?v=1TbS...tu.be&t=52m30s

Apparently Rare is working on two IP's they aren't ready to discuss yet, with two smaller teams within Rare. Possibly shown at Gamescom. (not counting Sea of Thieves, which in itself looks great)

Source comes from The Inner Circle Podcast, from what I know the man in the middle (Kor x Kal El I think he goes by) is someone who has hosted interviews/talked personally with Xbox executives such as Phil Spencer and Mike Ybarra and has regular talks with other notable figures at the Xbox division so there's a bit of credibility, but he doesnt say who he got this information from (apart from 'some people at E3') so take it with buckets/truckloads/freighters of salt. "Two extra IP's" is also vague as it could mean existing IP's, new IP's or both.

This would mean three different teams at Rare would be working on Sea of Thieves, Game X and Game Y simultaneously.

http://www.neogaf.com/forum/showthread.php?t=1236411

I know that they have more than 1 team but I didn't know how many games they're working on.