Nvidia-backed $5 billion AI company tells CNBC of major London expansion
Key points
- American AI company Runway is planning a major expansion in London, CNBC has learned, following in the wake of Anthropic and OpenAI as U.S. tech companies increasingly look to tap into commercial and talent opportunities in the city.
- Runway, which is building world models, on Monday exclusively told CNBC that the company plans to make London its new European headquarters and will invest more than $200 million into the U.K.'s AI ecosystem by the end of 2028. The company most recently raised $315 million in a Series E, featuring General Atlantic, AMD Ventures and Nvidia, resulting in a $5.3 billion valuation.
- "London puts us close to many of our largest European customers already doing serious work with Runway, including BBC, Fremantle and WPP, and it builds on the research team we already have here," Anastasis Germanidis, cofounder and Co-CEO at Runway, told CNBC.
- "The talent pool is exceptional, and London...
Quick Summary
American AI company Runway is planning a major expansion in London, CNBC has learned, following in the wake of Anthropic and OpenAI as U.S. tech
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Nvidia-backed $5 billion AI company tells CNBC of major Lond.
Key Takeaways
- American AI company Runway is planning a major expansion in London, CNBC has learned, following in the wake of Anthropic and OpenAI as U.S.
- tech companies increasingly look to tap into commercial and talent opportunities in the city.
- Runway, which is building world models, on Monday exclusively told CNBC that the company plans to make London its new European headquarters and will invest more than $200 million into the U.K.'s AI ecosystem by the end of 2028.
- The company most recently raised $315 million in a Series E, featuring General Atlantic, AMD Ventures and Nvidia, resulting in a $5.3 billion valuation.
- "London puts us close to many of our largest European customers already doing serious work with Runway, including BBC, Fremantle and WPP, and it builds on the research team we already have here," Anastasis Germanidis, cofounder and Co-CEO at Runway, told CNBC.
📌 Source: CNBC
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