Meta is launching a generative AI video editing tool, available in the Meta AI app, via the Meta.AI website and in the Edits app for Facebook and Instagram. Users are now able to transform 10 seconds of video using preset AI prompts that can change an outfit, location, style and more. The company says the feature is “inspired by” its Movie Gen models and promises it is the “first step toward our goal of bringing you AI video generation and editing across our apps and products,” with Meta AI video editing able to handle individualized text prompts later this year. The free tool is now available in the U.S. and about a dozen countries around the world. Continue reading Meta Rolls Out AI Video Editor Available via App and the Web

Google has launched the beta version of its Gemini-powered Google Vids productivity app, which lets users create work-related video presentations that embed documents, slides, audio recordings and even additional videos into a timeline. Incorporated into Workspace Labs, Google’s AI preview space, Google says invited participants can use Vids to “build a narrative with high quality templates” or “get to a first draft faster.” Access to Google’s royalty-free stock content library and Vids recording studio means a project can be completed “without ever leaving Workspace,” according to the company. Continue reading Gemini Powering Google Vids Multimedia Presentation Builder

Generative video creation and editing platform Captions has raised $60 million in Series C funding. Founded in 2021 by former Microsoft engineer Gaurav Misra and Goldman Sachs alum Dwight Churchill, the company’s technologies — Lipdub, AI Edit and the 3D avatar app AI Creator — have amassed more than 10 million downloads for mobile, the firm says. The C round brings its total raise to $100 million for a stated market valuation of $500 million. With the new funding, Captions plans to expand its presence in New York City, which is “emerging as the epicenter for AI research,” according to Misra. Continue reading Captions: Generative Video Startup Raises $60 Million in NYC