After raising the sum of 141 million USD from financiers, which includes Alphabet child company, Google, and Nvidia, artificial intelligence business Runway has been assessed at 1.5 billion dollars, according to someone aware of the situation on Thursday.
Salesforce Vc and Runway present investors were also a part of the expansion of the Series C fundraising round, the business stated in a statement.
Huge technological titans and venture capitalists have invested huge amounts of money in startups developing cutting-edge technologies as a result of ChatGPT’s meteoric growth and the promise of AI to alter industries.
“Generative AI is transforming the content creation industry, breathing new life into stories and ideas that were not imaginable,” Nvidia CEO Jensen Huang said in a statement.
Source: finance.yahoo.com
Using messages or pictures, Runway software can modify or alter already-existing movies or produce brand-new videos. Additionally, the business previously this year released a smartphone app that gave customers reach to its generative artificial intelligence (AI) capabilities.
Yet another AI firm, Inflection, got the sum of $1.3 billion from Microsoft previously at a value of 4 billion dollars, according to a source, acquainted with the transaction who spoke to Reuters. Numerous sectors are being transformed by artificial intelligence, so there is an increasing need for employees with knowledge and expertise in this field.
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I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person