Recently, Runway introduced Gen-3 Alpha, the first in a series of models trained on a new infrastructure for large-scale multimodal training. The model will power the company's text-to-video, image-to-video, and text-to-image tools. The company is also collaborating with leading entertainment and media organizations to create custom versions of Gen-3.
Key takeaways:
- AI-powered video startup Runway is reportedly seeking to raise $450 million at a $4 billion valuation.
- The company's software generates videos from text prompts or images and is used by Fortune 500 and Global 2000 companies.
- In June 2023, Runway raised $141 million from investors including Google and Nvidia, and was valued at $1.5 billion.
- Runway recently introduced Gen-3 Alpha, the first in a series of models trained on a new infrastructure for large-scale multimodal training.