tech
Nvidia-backed $5 billion AI company tells CNBC of major London expansion
Runway follows U.S. AI giants including Anthropic and OpenAI in announcing big London growth plans.
TL;DR
- Runway, an AI company valued at $5.3 billion, is establishing its European headquarters in London.
- The company will invest over $200 million into the U.K.'s AI ecosystem by the end of 2028.
- This expansion follows similar moves by U.S. AI firms Anthropic and OpenAI into London.
- Runway focuses on building 'world models,' which differ from large language models by processing various sensory inputs.
- The U.K. AI minister welcomed Runway's investment, emphasizing the city's appeal for ambitious AI firms.