By Eduardo Baptista BEIJING, Feb 12 (Reuters) - ByteDance's new video-generating artificial intelligence model has already impressed the likes of Elon Musk and gone viral in China, where it has been compared to DeepSeek and won praise for its ability to produce cinematic storylines with just a few prompts.

Startup Runway has raised a $315 million round at a $5.3 billion valuation, funds it will use to expand beyond AI video generation and into world models.

Much like presentation software once turned non-designers into visual communicators, AI video is now giving employees the ability to tell stories in a more engaging way.

Runway, an AI research and technology startup, said Tuesday that it has raised $315 million in a Series E round of funding led by General Atlantic.

ByteDance, TikTok's parent company in China, has launched a new AI video model called Seedance 2.0, which can create cinematic videos of up to 20 seconds using text, images, and audio. It's being widely circulated on social media as "Hollywood is cooked.

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