Samsung Next has made a significant investment in a very modest artificial intelligence (AI) firm based in Bellevue, Washington, indicating the company has ambitious plans to revolutionize the way video content is created globally.
Rahul Sood and David Raskino, two seasoned digital entrepreneurs who launched Irreverent Labs in late 2021, declared today that the company had closed financing from Samsung Next, the venture capital arm of the South Korean electronics giant. Previously, the company had raised more than $45 million over two rounds.
The relationship highlights Irreverent Labs’ desire to make its AI video production technology available to millions of Samsung device users worldwide, even though the financial details of the strategic investment were kept under wraps.
Rahul Sood, co-founder and CEO of Irreverent Labs, recently spoke with VentureBeat and said, “Samsung coming in at this stage is an opportunity for us to explore a distribution channel that we may not have access to otherwise.”
A video foundation model
The fledgling business, which currently has just about 25 workers, has been developing incredibly sophisticated AI models to produce 3D animated videos from straightforward written instructions. According to Irreverent Labs, its future “video foundation model” can convert prompts into engrossing 3D videos without error and with an unmatched level of quality and control.
According to experts, the technology may dramatically lower the hurdles to creating video entertainment, enabling both professionals and amateurs to produce everything from short films to ideas for video games. It could also prompt worries regarding the misuse of realistic AI-generated video
According to Sood, the chance to be incorporated on Samsung devices is pretty important for us. “It’s pretty interesting to make it simple for people to take a series of photos and submit them to [our foundation model] to create a video. It will open up a tonne of use cases for us that we have not yet identified.”
Irreverent Labs’ innovative AI synthesis technology may soon be found in millions of pockets and living rooms worldwide thanks to Samsung’s global reach. However, experts warn that the technology is still in its infancy and is unproven, particularly when it comes to producing longer, coherent video content without risk.