Google has recently made an announcement that it is planning to invest in a brand-named Runway. Runway is an AI-based startup that is based out of New York and allows customers to generate videos directly from text descriptions with the help of artificial intelligence.
According to a reliable source, the total valuation is around $1.5Bn including new capital.
The investment, which is approximately around $100Mn, underwent heavy competition amongst all cloud providers to network with companies that offer cutting-edge AI solutions. Amazon Web Services has recently praised Runway.
Amazon Web generates comparatively less revenue by leveraging its video-editing tools. However, on the other hand, Runway is very much anticipated to rent cloud servers directly from Google. This has been stated by a close source who has been closely associated with this deal.
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