"The fresh funds will allow Runway to "pre-train the next generation of world models and bring them to new products and industries," per a company blog post announcing the raise. World models are AI systems that construct internal representations of an environment so they can plan for future events, and many top minds believe they are essential to pushing beyond the limits of large language models."
"The funding follows the release of Gen 4.5, Runway's latest video generation model. Gen 4.5 allows users to generate high-definition videos from text prompts and introduces native audio, longform, multi-shot generation capabilities, character consistency, and advanced editing tools. The model has earned Runway significant credibility within the AI industry after outperforming video generation offerings from both Google and OpenAI on several benchmarks - a milestone that likely factored into investor interest."
Runway raised a $315 million Series E, nearly doubling its valuation to $5.3 billion and allocating funds to pre-train the next generation of world models for new products and industries. World models construct internal representations of environments to plan future events and are seen as essential for advancing beyond large language models. Runway's physics-aware video models and its December world model release position the company to address medicine, climate, energy, and robotics. Gen 4.5 enables high-definition video from text with native audio, longform, multi-shot generation, character consistency, and advanced editing. Runway has expanded compute capacity via a CoreWeave deal and faces competition from World Labs and DeepMind.
Read at TechCrunch
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