Host (likely the producer or a presenter from AI HR)

The AI video startup Higgs Field, which was founded by some ex-Snapchat executives, has just reached a $1.3 billion valuation.

This is massive, not just for the company, but I think for the AI video space, and it shows you just how fast things are heating up.

It also shows that venture capitalists are still willing to back a lot of these big AI video plays.

Even when it feels like OpenAI Sora and Google Gemini are really dominating with things like Google VO3 and like a lot of these big Runway and Pika and like a lot of these big labs have these really impressive video products and they have billions of dollars behind them.

And yet we're still, you know, willing to invest into new startups, which means they believe that OpenAI and Google are not going to run away with the market.

There's going to be a lot of other players here.

So today I want to get into the deal and how it's sort of structured, how they were able to raise this money and what their company is able to do, what sets them apart.

Get into all of that in the state of AI video today.

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All right, let's talk about this deal that's going down with Higgs Field right now.

I think what's interesting is this has actually grown a lot bigger than their original fundraising announcement that they did.

So they actually did an extension of their $50 million Series A. They closed that back in September.

They've now done an extension and they sold an additional $80 million in equity, which means that their total Series A is $130 million.

This is kind of an interesting thing.

You know, a lot of people could be like, oh, wow, like they they were able to get all this extra money.

But also because we're seeing like rounds happen so close back to back for a lot of the big A.I.,

labs doing a round in September and then doing a round in January, or I guess like afterwards, it could have been a Series B, but they decided to tag it on as a Series A. What's the difference?

This is probably the same valuation, which means that perhaps their valuation didn't grow.

Now, was the, you know, was the demand to invest in this dampened?