Google is investing in A24 as part of an artificial intelligence research partnership, the companies announced on Monday. The investment is approximately $75 million, tied to their AI deal and not a capital raise, TheWrap has learned.
A24 and Google’s DeepMind AI unit intend to create new workflows, tools and techniques for filmmaking and distribution. This marks the first time the search engine giant has taken stake in a movie studio, though it already owns YouTube through Alphabet.
“We believe the best way to develop tools that empower artists is to work directly with them,” Google DeepMind co-founder/CEO Demis Hassabis said in a statement. “By collaborating with filmmakers and industry leaders like A24 from the beginning, we can build new AI features to support artists in authentic, meaningful storytelling that helps enable their creative vision.”
“We believe breakthroughs happen when you get technology into the hands of the best minds in the field,” DeepMind product vice president Eli Collins added.
While A24 will have access to DeepMind’s data, the multiyear, non-exclusive deal does not give Google access to the movie studio’s library, which includes recent hits like “Backrooms,” “The Drama” and “Marty Supreme.”
The investment comes two years after A24’s last fundraising round, where Thrive similarly invested around $75 million, leading to a valuation of $3.5 billion.
TheWrap has reached out to Google and A24 for further comment.
