Funding
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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