Moonvalley raises $84 million to bolster AI video tools
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.
