Runway AI Inc. has clinched a new round of funding that vaults its valuation to $5.3 billion, according to a person familiar with the deal, as investors bet on increasingly lifelike artificial intelligence video technology for films, commercials and other projects.
Runway raised $315 million in the deal, which is set to be announced Tuesday and was led by private equity firm General Atlantic. Other investors in the funding round include Nvidia Corp., Fidelity, AllianceBernstein and Mirae. The person familiar with the valuation asked not to be identified because the information is private.
The funding comes less than a year after Runway ...