Moonvalley raises $84 million to bolster AI video tools

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Artificial intelligence research company Moonvalley has raised $84 million more in a funding round led by existing investor General Catalyst, it said on Monday, a week after releasing its first video AI model.

Why is it important?

Tech heavyweights including OpenAI and Alphabet are looking to get a leg-up in the lucrative entertainment industry, as film studios seek to use generative AI to speed up content creation and cut costs.

But video and image generation tools have also led to lawsuits by major film studios against AI companies, accusing them of…



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Moonvalley raises $84 million to bolster AI video tools



Artificial intelligence research company Moonvalley has raised $84 million more in a funding round led by existing investor General Catalyst, it said on Monday, a week after releasing its first video AI model.

Why is it important?

Tech heavyweights including OpenAI and Alphabet are looking to get a leg-up in the lucrative entertainment industry, as film studios seek to use generative AI to speed up content creation and cut costs.

But video and image generation tools have also led to lawsuits by major film studios against AI companies, accusing them of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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