Startup Behind Stable Diffusion Has Launched a Generative AI for Video Open Data Science Medium
Our selection represents the best AI tools and top AI tools that are indispensable for businesses aiming for excellence. And for end-to-end AI startups like Runway, capital needs for talent and compute can be even more pressing due to the high levels of technical expertise and computing required to build the entire technology stack, VCs told Insider. Runway has raised a Series D funding round of at least $100 million at a $1.5 billion valuation from a cloud service provider, according to multiple people familiar with the deal. This deal will triple the startup’s valuation from its Series C round from just five months ago, which valued the company at $500 million, according to Forbes.
For his part, Valenzuela clarified that Runway does not have an official partnership with Stability. Runway has since stepped away from core involvement with Stable Diffusion’s newer releases, including version 2.0 which was released in late November, according to Valenzuela. “I’m not really sure what Stable Diffusion 2.0 is,” he told Forbes Monday. Valenzuela told Forbes in early November that the company has been able to move fast in augmenting its product because of the head start it accumulated in generative AI long before it became flashy this summer. The New York City company was started by Valenzuela, Alejandro Matamala-Ortiz and Anastasis Germanidis. The trio met in art school at New York University, where they bonded over a mutual interest in using digital tools for design.
The systems are examples of what is known as generative A.I., which can instantly create text, images and sounds. Another example is ChatGPT, the online chatbot made by a San Francisco start-up, OpenAI, that stunned the tech industry with its abilities late last year. Runway’s efforts, however, come at a time when artists are pushing back against generative AI. For example, thousands of screenwriters have been on strike for over two months, halting many movie and television productions, because they want limits on the use of generative AI.
We have a very simple seat-based model – customers pay by the user, and there are pricing tiers depending on the usage and types of outputs. We can be flexible with our customers based on the specific tools they need. This unconventional approach has become more popular for AI startups, who can leverage these relationships to gain access to cloud computing resources, which have become increasingly rare in the AI boom. For instance, in 2019, Microsoft’s $1 billion investment in OpenAI was split between cash and credits for Azure, Microsoft’s cloud business, the MIT Tech Review reported in 2020. The startup’s latest round, however, diverges from conventional tech fundraising efforts by raising capital from a cloud service provider rather than a traditional venture capital firm.
Entertainment & Media Overview
Runway blows up with an IG video that shows how images turn video by using Gen-1. The first-generation software, Gen-1, is currently accessible to a select group of invited users through Runway’s website and is slated to become available to all those on the waitlist within a few weeks. These AI tools open up more accessible options to those who may find conventional video editing software and tools a challenge to navigate. Educators, marketers, and even students who need to spice up their presentations can also turn to text-to-video AI to help them creatively simplify or tug the attention of their audience toward their reports and lectures.
- But given the right prompt, it produces videos that show where the technology is headed.
- Israeli startups developing Generative AI for video include D-ID and Hour One, specializing in photorealistic video creation using deep learning.
- This funding round values Runway at $1.5 billion, bringing its total raised to $237 million and solidifying its position as one of the well-funded generative AI startups in the industry.
- We can be flexible with our customers based on the specific tools they need.
- The suite contains a number of image generation and manipulation applications that can be trained using AI but where it really shines is in the video development, creation, and editing space.
Generative AI is the latest evolution in artificial intelligence that allows machine learning-powered applications to generate various types of content in response to prompts from a user. AI has traditionally been used to analyze and synthesize data.; this new evolution represents the first time that creative work is being developed Yakov Livshits by machines at unparalleled. Runway has built a suite of 30 AI tools that allow users to generate and edit creative content. The suite contains a number of image generation and manipulation applications that can be trained using AI but where it really shines is in the video development, creation, and editing space.
Founder of the DevEducation project
A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.
We guide our loyal readers to some of the best products, latest trends, and most engaging stories with non-stop coverage, available across all major news platforms. With expertise in tech that spans over 10 years, Joe covers the technology industry’s breaking news, opinion pieces and reviews. We’ve all been messing around with text and photo AI generation for a while now. This company wants to be the first to bring text-to-video AI generation to the masses.
That works best if the scene has some action — but not too much action — something like “a rainy day in the big city” or “a dog with a cellphone in the park.” Hit enter, and the system generates a video in a minute or two. The ChatGPT developer earlier raised a $1 billion investment from Microsoft in 2019. Half of that investment, or $500 million, was reportedly provided in the form of Azure credits. In 2020, Microsoft detailed that it had built an Azure-powered supercomputer for OpenAI with 10,000 graphics cards and 285,000 central processing unit cores.
After this, you will need to wait about 30 minutes for training results to process. Runway is an AI research company with a mission to democratize the use of artificial intelligence in creative endeavors. It was founded in 2018 by a team of artists including current CEO Cristóbal Valenzuela, Alejandro Matamala, and Anastasis Germanidis. The Everything Everywhere All at Once film had an unusually small team of visual effects artists who were working against tight deadlines. Evan Halleck was on this team, and he used Runway’s AI tools to save time and automate tedious aspects of editing. Specifically in the film’s rock scene, he used Runway’s rotoscoping tool to get a quick, clean cut of the rocks as sand and dust were moving around the shot.
Albeit the video is short, the sun sets, the wind blows, and the plants sway, all visible in plain sight. One of the key advantages of Gen-1 is its ability to handle large video datasets, which makes it more versatile and flexible than other generative AI systems that are often limited Yakov Livshits to specific video types. This opens up a wide range of potential applications, from film and television production to video gaming and advertising. With Runway’s record working on film and television, it gives the startup another advantage in the generative AI video race.
One of the key use cases of Runway’s AI tools is in the entertainment industry. The company’s technology can be used to create realistic and immersive virtual environments, characters, and objects for movies, video games, and other forms of entertainment. This can help to reduce production costs and improve the overall quality of the final product. The NYC based company created a great piece of software that brings together some of the best Machine Learning algorithms for generative art and make them accessible by providing an easy to use interface and all-in-one solution.