RunwayML releases its Gen-3 Alpha model publicly

Today’s Highlights:

📰 News: RunwayML releases its latest model, Gen-3 Alpha, publicly

💰 Funding: RunwayML also plans to raise $450M

⚡️ Top News Stories:

1. RunwayML announced the general availability of its Gen-3 Alpha model, capable of generating hyper-realistic AI videos from text, image, or video prompts.

• To use Gen-3 Alpha users must upgrade to a paid plan starting at $12/month per editor, billed annually.

• The model offers high fidelity and controllable video generations, supporting imaginative transitions, precise key-framing, and expressive human characters.

• Initially only supporting text-to-video mode, Gen-3 Alpha will soon expand to image-to-video and video-to-video modes, integrating advanced control features like Motion Brush and Director Mode.

2. Anthropic introduces an initiative to fund third-party evaluations for advanced AI models, focusing on safety and capability assessments, w/ priority evaluations for cybersecurity, CBRN risks, model autonomy, national security, social manipulation, and misalignment risks.

3. Apple Inc. will gain an observer role on OpenAI’s board, following Apple’s announcement to integrate ChatGPT into its products, with Phil Schiller, head of Apple’s App Store, chosen for the position.

4. Meta has launched Meta 3D Gen, an AI system that generates high-quality 3D assets from text descriptions in under a minute, aiming to revolutionize industries like gaming and architecture.

5. Brazil’s data protection authority has banned Meta from using Brazilian personal data for AI training due to risks of serious damage to users.

6. ElevenLabs partners with the estates of Judy Garland, James Dean, Burt Reynolds, and Sir Laurence Olivier to bring their iconic voices to its Reader App, which converts digital text into voiceovers, allowing users to listen to books and articles.

7. French AI lab Kyutai launches Moshi, a voice-enabled AI chatbot that can talk expressively and is openly accessible to all. Moshi operates locally without the internet, offers text-to-speech with emotions, multi-voice interactions, and has 70 different speaking styles.

8. YouTube has introduced a policy allowing users to request the removal of AI-generated or synthetic content that simulates their face or voice as a privacy violation.

9. WhatsApp is working on a generative AI feature to create personalized avatars using user images, text prompts, and Meta's AI Llama model.

💰 Top Funding News:

1. RunwayML, on the heels of releasing its Gen-3 Alpha model, is in talks to raise $450M in new funding at a $4Bn valuation, and aims to involve VC firm General Atlantic.

2. The Biden administration is awarding $504M to 12 regional tech hubs (New York, Florida, Nevada, and South Carolina, among others) for research in AI, semiconductor manufacturing, and clean energy.

3. AI firms secured nearly half of the $56Bn in U.S. start-up funding from April to June 2023, reflecting a significant rise in investor interest, w/ key investments including CoreWeave raising $1.1Bn, Scale AI securing $1Bn, and Elon Musk’s xAI attracting $6Bn.

4. Sentient Labs, which is developing an open-source AI platform aimed at creating a community-driven AGI system utilizing blockchain tech via Polygon, raised an $85M Seed round, co-led by Peter Thiel's Founders Fund, Pantera Capital, and Framework Ventures, w/ MH Ventures and Arrington Capital.

5. Magic, which is developing AI models designed to write software autonomously, is in 6. discussions to raise over $200M in a new round, valuing the company at $1.5Bn.

6. Sanctuary AI, which focuses on creating human-like intelligence for general-purpose robots, secured significant strategic financing from BDC Capital’s Thrive Venture Fund and InBC Investment Corp, bringing its total investment to over $140M, 

7. Harvey, which provides AI tools for legal professionals, is seeking to raise $100M in funding, expected to be led by Alphabet Inc.’s GV fund, valuing the company at $1.5Bn.

That's all for today's email! If you want more please follow us at the social channels linked below, or check out our website!

Share our newsletter: If you like our work please share/forward this email with your friends, colleagues, and family. It's the best way to support us!

If this email was forwarded to you please sign up here to continue receiving them.

Want your content, product, jobs, or event featured in our newsletter? Reply to this email with the details, and our team will reach out to you.

Do you use AI for work? Tell us how, and you could be featured in our newsletter!

Check out our website for more resources, including a list of AI investors, products, events, and twitter follows.

For an archive of all our posts, click here.

We'd love to hear from you! You can always leave us comments or feedback by replying to this email!

Powered by AI. Curated and edited by Humans.