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Runway AI managed to secure $308 million in funding from General Atlantic and other investors which enabled its rise to a market valuation of over $3 billion on April 4. The funding round received significant investment from Nvidia (NASDAQ:NVDA) together with Fidelity Management & Research, Baillie Gifford (Trades, Portfolio), and SoftBank Vision Fund 2. Bloomberg reports that the investment raised Runway's worth to exceed $3 billion.?
Runway Studio expansion is the primary target of these funds as the studio runs its AI-driven film and animation operations through models built by research team members. The company intends to enhance media generation and AI research by adding a new staff of engineers and researchers.?
According to their Gen-4 model runways, developers can now create exact and reliable character-based elements, among many other scene items, with standardized output. Runway implements this technology in multiple projects, including Amazon's House of David, Madonna's concert visual designs, and Puma's promotional advertisement. Runway executed a partnership with Lionsgate studio (LGF.A, LGF.B) to provide training for AI models through studio content, which enables prospects for film cohort development.
This article first appeared on GuruFocus.