Trump has begun another trade war. Here's a timeline of how we got here
Canada's leader laments lost friendship with US in town that sheltered stranded Americans after 9/11
Chinese EV giant BYD's fourth-quarter profit leaps 73%
You're an American in another land? Prepare to talk about the why and how of Trump 2.0
Chalk talk: Star power, top teams and No. 5 seeds headline the women's March Madness Sweet 16
Purdue returns to Sweet 16 with 76-62 win over McNeese in March Madness
(Reuters) -AI video startup Runway said on Thursday it had raised $308 million in a new funding round, led by private equity firm General Atlantic, to expand its new media ecosystem.
The latest funding round valued the New York-based company at over $3 billion, according to people familiar with the matter, but Runway declined to comment on the valuation.
With the latest fundraise, the startup plans to develop AI research for new media focusing on its AI film and animation studio using world simulators.
A world model is an AI system that builds an internal representation of an environment, and uses it to simulate future events within that environment.
The round also saw participation from SoftBank Group, Nvidia, Fidelity Management & Research Company and Baillie Gifford.
Runway, which offers software that allows users to create videos by using text prompts or images, signed a deal with Lionsgate last September to create a customized video generation model to help "filmmakers, directors and other creative talent augment their work".
(Reporting by Kritika Lamba in Bengaluru and Krystal Hu in New York; Editing by Vijay Kishore)
