News Summary

AI startup Runway has released Gen-4, a new high-fidelity AI-powered video-generating model. Gen-4 aims to provide consistent characters, locations, and objects across scenes and is available to both individual and enterprise customers. The model allows users to generate videos from visual references and instructions without the need for additional training. Runway, backed by investors such as Salesforce, Google, and Nvidia, faces competition from OpenAI and Google in the video generation space. The company is raising a new funding round, valuing it at $4 billion, and aims to reach $300 million in annualized revenue. Gen-4’s release comes amidst legal challenges regarding the use of copyrighted materials in AI training datasets.