AI video generator Runway is backed by corporations including Alphabet, Nvidia and Salesforce Ventures.

Runway launches VC fund

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Corporate-backed AI novel video generator Runway has launched a $10m AI fund, according to a story by Axios.

The New York-based startup has raised more than $250m from several corporations including US-based conglomerate Alphabet and US-based technology company Nvidia. Salesforce Ventures, the corporate venture arm of US-based software developer Salesforce, has also provided funding.

The unnamed fund will invest in early-stage AI companies and will help Runway expand its AI industry network.