Luma AI raises $900 million in funding round led by Saudi AI firm Humain [MSNBC.com]
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Source: MSNBC.com
Video generation startup Luma said it raised $900 million in a new funding round led by Humain, an artificial intelligence company owned by Saudi Arabia's Public Investment Fund.The financing, which included participation fromAdvanced Micro Devices'U.S.-Saudi Investment ForumThe company is now valued upwards of $4 billion, CNBC has confirmed.Luma develops multimodal "world models" that are able to learn from not only text, but also video, audio and images in order to simulate reality. CEO Amit Jain told CNBC in an interview that these models expand beyond large language models, which are solely trained on text, to be more effective in "helping in the real, physical world.""With this funding, we plan to scale our and accelerate our efforts in training and then deploying these world models today," Jain said.Luma released Ray3 in September, the first reasoning video model that can interpret prompts to create videos, images and audio. Jain said Ray3 currently benchmarks higher than Open'
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