Meta is partnering with the AI startup Midjourney to license its advanced AI image and video generation technology. The collaboration was announced on Friday by Meta’s Chief AI Officer, Alexandr Wang, who stated that Meta’s research teams will work with Midjourney to integrate its technology into future AI models and products.
By the Numbers
The partnership connects Meta with one of the fastest-growing and most recognized names in generative AI:
- $200 Million: Midjourney’s reported revenue pace in 2023.
- $14 Billion: The amount Meta invested in the AI company Scale AI earlier this year.
- Founded in 2022: The year Midjourney was founded, quickly becoming a leader in the space.
A Strategic Move to Compete in Generative AI
This partnership is a significant move for Meta as it aims to develop products that can compete with industry-leading AI image and video models like OpenAI’s Sora and Google’s Veo. Meta has its own AI image generation tool, Imagine, and a video generation tool called Movie Gen, but licensing Midjourney’s technology is expected to significantly enhance its capabilities. “To ensure Meta is able to deliver the best possible products… it will require… working with the best players across the industry,” said Wang.
Midjourney: An Independent Powerhouse
Midjourney has a unique position in the AI industry as one of the few leading model developers that has never taken on outside funding. In a post on X, CEO David Holz confirmed that his company remains independent with no investors, despite previous reports that Meta had explored acquiring the startup. Midjourney, which sells subscriptions ranging from $10 to $120 per month, quickly became a leader in the AI image space for its unique and realistic style.
Meta’s Aggressive Push into AI
The licensing agreement with Midjourney is the latest in a series of aggressive moves by Meta to get ahead in the AI race. Earlier this year, CEO Mark Zuckerberg went on a major hiring spree for AI talent, the company invested $14 billion in Scale AI, and it acquired the AI voice startup Play AI.
Source: TechCrunch
