The Runway AI website on a smartphone arranged in New York, US, on Wednesday, Aug. 16, 2023. Runway .
.. [+] AI Inc.
, whose artificial intelligence software can create a short video from just a few typed words, has raised $141 million in funding from Alphabet Inc.'s Google, Nvidia Corp., Salesforce Inc.
and other investors. Photographer: Gabby Jones/Bloomberg Picture this: you’re watching a gripping drama, a heartwarming romance, or a laugh-out-loud comedy, but every scene, character, and plot twist is generated entirely by AI . This isn’t science fiction, it's reality unfolding.
Runway, an AI video generation startup reportedly in talks to raise funds at $4 billion valuation in July, inked a deal this month with Lionsgate , the film studio behind iconic franchises like The Hunger Games , Twilight , and John Wick . Runway’s collaboration with Lionsgate grants it access to a treasure trove of movies and shows, in exchange for a custom AI video generation model. Lionsgate plans to use AI in creation of its new movies and TV shows.
“Several of our filmmakers are already excited about its potential applications to their pre-production and post-production process. We view AI as a great tool for augmenting, enhancing and supplementing our current operations,” said Lionsgate Vice Chair Michael Burns . Hollywood, entertainment, and all industries involving visuals are on the cusp of transformation.
AI Video Generation Impacting Far Beyond Creative Industry A pioneer of digit.