Artificial intelligence research firm Moonvalley raised an additional $84 million in a funding round led by existing investors Catalyst, said Monday, a week after releasing its first video AI model.
Why is it important?
High-tech heavyweights including Openai and Alphabet 
Goog As Film Studios is trying to speed up content creation and reduce costs by using generated AI, they are looking to consider leg-ups in the lucrative entertainment industry.
However, the video and image generation tools have also led to lawsuits by major film studios against AI companies, accusing them of copyright infringement and plagiarism.
Moonvalley said the investment will help meet enterprise demand, expand its content library and build the functionality its partners have requested.
coreweave 
CRWVKhosla Ventures and Ycombinator also invested in the round.
context
Last week, Moonvalley released its first licensed AI video model for professional production.
Visual Effects veteran Ed Ulbrich, who worked on films such as “The Titanic” and “The Strange Incident of Benjamin Button,” joined Moon Valley as head of strategic growth and partnerships last month.
The company raised $70 million last November, bringing its total funding to $154 million.
Important Quotes
“Our relationship provides Moonvalley with access to advanced computing resources, including modern GPU systems,” said Brannin McBee, co-founder and chief development officer of CoreWeave.
