Google investing in text-to-video AI name Runway - report
400tmax/iStock Unreleased via Getty Images

Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is reportedly invested in artificial-intelligence start-up Runway, a specialist in allowing customers to quickly make videos from text descriptions.
Runway raised $100M in a new funding round that valued the start-up at $1.5B, and Amazon Web Services (AMZN) has pointed to Runway as a key AI startup customer. But Google has put in funding and Runway is now expected to rent cloud servers from Google, The Information reported.

That's part of an ongoing scramble among big-tech rivals to win AI customers, following Microsoft's (MSFT) investments in OpenAI.
Such investments in current or potential cloud customers fits into Google's playbook, The Information noted, pointing to Google's $400M investment in OpenAI rival Anthropic (for which Google Cloud said it became the start-up's preferred provider).
Google Cloud had announced it signed up two other key AI start-ups: text-to-image maker Midjourney, and chatbot name Character AI.