Runway was the first platform to partner with a Hollywood studio for AI video generation, using its artificial intelligence models to help create novel content, and speed up production, editing and visual effects, designing a model for Lionsgate trained on its library of films.
Founded in 2018 and based in New York, Runway has several partnerships across the global entertainment industry and is looking to break into gaming. Its software has been used in the Oscar-winning film Everything Everywhere All at Once, The Late Show and its non-studio clients include sportswear brand New Balance and pop singer Madonna.
The start-up, which raised $308mn in April at a valuation of more than $3bn, now has its eyes on another breakthrough in AI called ‘world models’. This approach to AI systems is a step away from the large language models that currently underpin chatbots and video generation tools, and is instead a way to build models that understand the physical world around them.