AI video company Runway has secured $308 million in a fresh funding round led by General Atlantic to bolster its new media ecosystem. According to Bloomberg, sources mentioned that this investment puts the New York-based firm's value over $3 billion. Despite this, Runway refrained from commenting on the valuation. The funds from this round will be dedicated to advancing AI technologies in new media, particularly focusing on its AI film and animation studio employing world simulators. These simulators are AI applications that create internal representations of a setting to simulate future occurrences within that setting. SoftBank Group, Nvidia, Fidelity Management & Research Company, and Baillie Gifford were also part of this round. Runway, known for its software allowing users to generate videos through text prompts or images, previously collaborated with Lionsgate to develop a personalized video generation model benefiting filmmakers and other creative professionals.