OpenAI has closed a $40 billion funding round, a record for a private tech firm. The infusion gives the nine-year-old San Francisco startup a $300 billion valuation making it the second most richly apprised private firm in the world, second only to SpaceX at $350 billion and tied with ByteDance, according to CNBC. The round was led by SoftBank Group contributing $30 billion, which likely gives the Japanese holding company the second largest stake, after Microsoft, which is said to have received a commitment for 49 percent of any profits in exchange for nearly $14 billion. Read more

Meta Platforms is developing a deluxe entry for its popular Ray-Ban Meta smart glasses line that is said to incorporate hand-gesture controls and will include a screen for displaying photos and apps. The price tag will reportedly be more than $1,000 (and possibly as high as $1,400) when the item hits the shelves, possibly by the end of this year. Code-named Hypernova, the souped-up eyewear is part of a Meta plan to make a wearable alternative to Apple iPhones. Existing Ray-Ban Meta glasses can pair with Android phones to make calls. Read more

Roblox is working with Google to scale-up advertising, adding the search giant’s immersive ads and allowing users to opt-in to watch full-screen spots of up to 30-seconds to earn in-game perks. The program, known as Rewarded Video, was announced at the IAB PlayFronts where Roblox also touted new partnerships with measurement and brand lift firms including Nielsen, Kantar, IAS, Cint and DoubleVerify “to enable brands to better understand the impact of their investment.” Rewarded Video will be implemented by Google Ad Manager, which offers its own metrics. Gamers will be able to accrue benefits including virtual currency and power-ups. Read more

Runway has introduced a new video generation model, launching a next phase of competition that could transform film production. Notably, its Gen-4 system improves the consistency of characters, locations and objects across multiple scenes, an elusive prospect for most AI video generators. The New York-based startup calls its new development “a step towards Universal Generative Models that understand the world.” The key, Runway says, is to provide a single reference image of the character, item or environment as part of the model’s project material. Runway Gen-4 can generate 5- and 10-second clips at 720p resolution. Read more

Amazon is formally rolling out its new Nova family of foundation models. Teased at the re:Invent conference hosted by AWS, details of the new multimodal series began leaking out this month. As part of the move, Amazon is diving into the agentic AI business with a new model called Nova Act, which is now in research preview. Nova Act is designed to control Web browser actions and independently tackle simple tasks. A Nova Act SDK is also being made available to allow developers to customize their own agents using the general-purpose Nova. The company is pushing for agents to help streamline business productivity. Read more