Runway, an AI video startup based in New York, raised $308 million in a funding round led by General Atlantic, increasing its valuation to over $3 billion. This follows a $141 million funding extension in June 2023 and an initial $50 million in December 2022. Key investors in this round include Nvidia, SoftBank Group, Fidelity Management & Research Co., and Baillie Gifford. Runway develops software that allows users to create videos from text or images and recently launched its Gen-4 AI model for consistent character and background management. The company also partnered with LionsGate to tailor a video-generation model. Runway aims to advance AI solutions for its film and animation studio with the new funds, totaling over $540 million raised since 2018.

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