(Reuters) – Runway is in talks with investors including private equity firm General Atlantic to raise $450 million at a valuation of about $4 billion for the artificial intelligence-powered video startup, the Information reported on Tuesday, citing sources.
Since the launch of ChatGPT by OpenAI in 2022, there has been an immense interest in AI, with enterprises investing millions of dollars to cash in on the trend.
General Atlantic is in discussions to lead the funding round at Runway, which offers software that allows users to create new videos by using text prompts or images, the report said, citing a person involved in the deal.
Runway did not immediately respond to a Reuters request for comment.
The company was valued at $1.5 billion after it raised $141 million from investors including Alphabet-owned Google and Nvidia, Reuters reported in June last year.
(Reporting by Harshita Mary Varghese; Editing by Shinjini Ganguli)
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