Google has formally announced the launch of its AI Futures Fund to identify and invest in artificial intelligence startups. Participating startups will get early access to Google DeepMind’s latest models — Gemini, Imagen and Veo, “hands-on support from Google researchers” and Google Cloud credits. The AI Futures Fund has been ramping up these past several months, working with startups including Fal, Replit and Synthesia, among others. In identifying up-and-coming AI startups, Google is competing against Amazon and Microsoft who have aggressively pursued nascent firms, most notably Anthropic and OpenAI, respectively.

“The fund will back startups from seed to late stage and will offer varying degrees of support,” TechCrunch writes, noting that “Google has been making big commitments over the past few months to support the next generation of AI talent and scientific breakthroughs.”

TechCrunch highlights “startups such as the meme-making platform Viggle and the webtoon app Toonsutra” as newcomers currently in the fold. “The AI Futures Fund doesn’t follow a batch or cohort model,” a Google spokesperson told TechCrunch, explaining “there’s no fixed application window or deadline. When we come across companies that align with the fund’s thesis, we may choose to invest.”

India’s Toonsutra is “using Gemini’s translation capabilities to make digital comics accessible across India’s diverse linguistic landscape,” while Viggle is using Google models to explore “new forms of video creation,” according to a Google Labs blog post.

Another case study, Rooms, lets users create, play and share interactive 3D spaces and is working with Gemini to enrich content experiences.

“Select startups get the opportunity to seek direct investment from Google to fuel growth and scale AI development,” the blog post says.

Google has a history of generosity towards AI startups. “In November, the company’s charitable wing Google.org announced a $20 million cash grant to researchers and scientists working on AI projects,” SiliconANGLE points out.

That altruism followed CEO Sundar Pichai’s September announcement of a $120 million Global AI Opportunity fund to support AI education and training. And in 2024 Google.org allocated $20 million to a generative AI accelerator program for nonprofit AI initiatives.

“Separately, Google also operates the Google for Startups Founders Fund, which supports startups across an array of industries, including many that are focused on AI technologies,” SiliconANGLE reports.