Alibaba-Backed Video AI Startup PixVerse Raises $300 Million

PixVerse has raised $300 million in fresh funding, people familiar with the matter said, elevating the startup backed by China’s Alibaba Group Holding Ltd. to unicorn status as the race to dominate AI-generated video intensifies.

The funds will help the company accelerate its global expansion and target enterprise customers across North America and Asia, said the people, who asked not to be named because the amount isn’t public.