Close Menu
AI Week
  • Breaking
  • Insight
  • Ethics & Society
  • Innovation
  • Education and Training
  • Spotlight
Trending

UN experts warn against market-driven AI development amid global concerns

September 20, 2024

IBM launches free AI training programme with skill credential in just 10 hours

September 20, 2024

GamesBeat Next 2023: Emerging leaders in video game industry to convene in San Francisco

September 20, 2024
Facebook X (Twitter) Instagram
Newsletter
  • Privacy
  • Terms
  • Contact
Facebook X (Twitter) Instagram YouTube
AI Week
Noah AI Newsletter
  • Breaking
  • Insight
  • Ethics & Society
  • Innovation
  • Education and Training
  • Spotlight
AI Week
  • Breaking
  • Insight
  • Ethics & Society
  • Innovation
  • Education and Training
  • Spotlight
Home»Insight»San Francisco-based AI video-generation start-up Pika secures $80 million in latest funding round
Insight

San Francisco-based AI video-generation start-up Pika secures $80 million in latest funding round

Aiden CaptainBy Aiden CaptainJune 7, 20240 ViewsNo Comments2 Mins Read
Share
Facebook Twitter LinkedIn WhatsApp Email

Tech start-up Pika, based in San Francisco, has successfully raised $80 million in its recent funding round, bringing its valuation to $470 million. The company aims to challenge industry leaders in AI-generated video production with its innovative tool and team of AI experts.

San Francisco-based AI video-generation start-up Pika has secured $80 million in its latest funding round. This round brings its valuation to $470 million, and features investments from Spark Capital, Lightspeed Venture Partners, and Greycroft. Pika aims to compete with industry giants like OpenAI and Google in the burgeoning field of AI-generated video.

Pika’s tool allows users to create short AI-generated videos from text prompts. The funding will help the company continue training its AI, improve its video-editing features, and manage the high computational costs associated with AI video generation. Pika’s team includes 13 members with backgrounds in AI research from companies like Google, Meta, and Uber.

The AI video space has seen increased investment, with $25.9 billion poured into AI and machine-learning companies in Q1 2024, according to PitchBook. While video generation presents more technical challenges compared to image generation, Pika’s founders, Demi Guo and Chenlin Meng, express confidence in their team’s expertise.

In the context of wider AI adoption, static AI images have already seen significant use across social media, often for propaganda purposes. AI-generated content, however, is on the rise, especially as social media platforms explore integrating AI into user-generated content features.

Despite the growing competition, Pika aims to carve out its space by focusing on building robust AI models independently of larger tech companies, potentially avoiding the massive budgets required by industry heavyweights. The latest funding round places Pika in a strong position to further develop its technology and expand its market presence.

Share. Facebook Twitter LinkedIn Telegram WhatsApp Email Copy Link
Aiden Captain
  • X (Twitter)

Aiden brings a human perspective to AI stories at AI WEEK. As the Insight Editor, he delves into the ways AI is transforming the human experience, fostering understanding and connection in an increasingly tech-driven world.

Related News

UN experts warn against market-driven AI development amid global concerns

September 20, 2024

Inbolt secures €15 million in Series A round to propel expansion and technological advancements

September 20, 2024

Publishing.com unveils AI-powered platform to transform book publishing

August 16, 2024

Clara Analytics expands leadership team with new executive hires

August 16, 2024

New supercomputer set to transform AI in healthcare

August 16, 2024

Google expands AI overviews in search to the UK and other countries

August 16, 2024
Add A Comment
Leave A Reply Cancel Reply

Top Articles

IBM launches free AI training programme with skill credential in just 10 hours

September 20, 2024

GamesBeat Next 2023: Emerging leaders in video game industry to convene in San Francisco

September 20, 2024

Alibaba Cloud unveils cutting-edge modular datacentre technology at annual Apsara conference

September 20, 2024

Subscribe to Updates

Get the latest AI news and updates directly to your inbox.

Advertisement
Demo
AI Week
Facebook X (Twitter) Instagram YouTube
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 AI Week. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.