RunwayML Eyes $450 Million Investment, Launches Gen-3 Alpha

General Atlantic will lead the new round, which would value RunwayML at $4 B. The New York company has raised $237 million to date. Investors include Google, Nvidia, Salesforce Ventures, Felicis Ventures, Amplify Partners, Lux Capital Management, Coatue Management and Madrona Venture Group.

Gen-3 Alpha can create videos up to ten seconds. And they're good. Really good. But. Generating AI images can be expensive. Runway Gen-3 is $1/per each 10 second video generated. If you take image generation seriously, and you’re going to make multiple projects, this will get expensive fast, because for each usable shot there can be dozens of “takes.” Director Paul Trillo told me it took over 700 generations to make the Sora music video,. 700 x $6=$4,200.

“Gen-3 is cool. I’ve been testing it quite a bit, it seems to really excel at real-life simulations and establishing shots,” says Caleb Ward, CEO and co-founder of Curious Refuge, best known for “Wes Anderson Star Wars,” and other YouTube AI sensations. “The true utility power of Gen-3 will be here once you are able to upload reference images.

Biden Vs. Trump 2024 Election Polls: Trump’s Lead Reaches Record High In 2 Prominent Surveys As More Voters Say Biden’s Too Old Early access user The Dor Brothers demonstrated Gen-3’s capabilities with the AI fashion runway show above. They launched aWhen it launched in February, Sora appeared to be ay ahead of the rest of the AI video industry. With the release of Runway Gen-3 Alpha, Dream Machine from Luma AI, Vudu from Google, Kling from China, and more to come from Pika and others, the text-to-video category is crowded with companies and venture dollars.

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