LogInThe developer of generative AI and video editing tools is now worth $1.5 billion.
According to sources familiar with the matter, Google has allegedly made an undisclosed investment in Runway, a developer based in New York that specializes in generative artificial intelligence and machine learning-powered video editing tools, elevating the company's overall value to approximately $1.5 billion.
As reported by The Information, the investment, part of a roughly $100 million funding round, includes $75 million in Google Cloud credits and other services over a three-year period. Despite a previous deal between Runway and Amazon Web Services earlier this year, wherein Runway was expected to utilize cloud servers from Amazon, it is now anticipated that Runway will opt for cloud servers from Google, as stated by an anonymous source familiar with the deal.
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