Advertisement
Canada markets open in 9 hours 11 minutes
  • S&P/TSX

    22,244.02
    +20.35 (+0.09%)
     
  • S&P 500

    5,537.02
    +28.01 (+0.51%)
     
  • DOW

    39,308.00
    -23.90 (-0.06%)
     
  • CAD/USD

    0.7349
    +0.0003 (+0.04%)
     
  • CRUDE OIL

    83.71
    -0.17 (-0.20%)
     
  • Bitcoin CAD

    74,344.76
    -6,008.86 (-7.48%)
     
  • CMC Crypto 200

    1,143.89
    -117.30 (-9.29%)
     
  • GOLD FUTURES

    2,369.40
    0.00 (0.00%)
     
  • RUSSELL 2000

    2,036.62
    +2.75 (+0.14%)
     
  • 10-Yr Bond

    4.3550
    0.0000 (0.00%)
     
  • NASDAQ futures

    20,411.50
    0.00 (0.00%)
     
  • VOLATILITY

    12.26
    +0.17 (+1.41%)
     
  • FTSE

    8,241.26
    +70.14 (+0.86%)
     
  • NIKKEI 225

    40,785.05
    -128.60 (-0.31%)
     
  • CAD/EUR

    0.6789
    -0.0003 (-0.04%)
     

AI-video maker Runway in talks to raise funds at $4 billion valuation, Information reports

(Reuters) - Runway is in talks with investors including private equity firm General Atlantic to raise $450 million at a valuation of about $4 billion for the artificial intelligence-powered video startup, the Information reported on Tuesday, citing sources.

Since the launch of ChatGPT by OpenAI in 2022, there has been an immense interest in AI, with enterprises investing millions of dollars to cash in on the trend.

General Atlantic is in discussions to lead the funding round at Runway, which offers software that allows users to create new videos by using text prompts or images, the report said, citing a person involved in the deal.

Runway did not immediately respond to a Reuters request for comment.

ADVERTISEMENT

The company was valued at $1.5 billion after it raised $141 million from investors including Alphabet-owned Google and Nvidia, Reuters reported in June last year.

(Reporting by Harshita Mary Varghese; Editing by Shinjini Ganguli)