Update: Market Chatter: Alphabet, Meta Offering Millions to Work With Hollywood on AI-February 2024-www.financetom.com

Update: Market Chatter: Alphabet, Meta Offering Millions to Work With Hollywood on AI

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Update: Market Chatter: Alphabet, Meta Offering Millions to Work With Hollywood on AI

May 23, 2024 12:35 PM

03:14 PM EDT, 05/23/2024 (MT Newswires) -- (Updates with MT Newswires' attempt for comment in the third paragraph.)

Alphabet (GOOG) and Meta Platforms ( META ) have held talks with big Hollywood studios about licensing content to use in their artificial intelligence video generation software, Bloomberg reported Thursday, citing people familiar with the matter.

The tech giants are working on a technology that can create realistic scenes from text prompts, and have offered tens of millions of dollars to collaborate with studios, according to the report. Microsoft ( MSFT )-backed (MSFT) OpenAI is having similar conversations, according to Bloomberg.

Alphabet, Meta and Microsoft ( MSFT ) did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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