The AI video startup Higgs field, which was founded by some ex-Snapchat executives, has just reached a $1.3 billion valuation.

This is massive, not just for the company, but I think for the AI video space, and it shows you just how fast things are heating up.

It also shows that venture capitalists are still willing to back a lot of these big AI video plays,

even when it feels like OpenAI Sora and Google Gemini are really dominating with things like

Google V-O3 and like a lot of these big runway and PICA and like a lot of these big labs have

these really impressive video products and they have billions of dollars behind them and yet we're

still, you know, willing to invest into new startups, which means they believe that Open AI and Google are not going to run away with the market. There's going to be a lot of other players here. So today I want to get into the deal and how it's sort of structured, how they were able to raise this money, and what their company is able to do, what sets them apart, get into all of that in the state of AI video today. Before we do that, I wanted to

mention if you want to try a lot of the AI models I mentioned on the podcast, including everything

from Google, OpenAI, Meta, 11 Labs for audio, tons of cool audio and video generators. Go check out

my startup, which is AIbox. There's a link in the description. You get access to over 40 different AI models

all in one place. You can chat with them just like chat. JPD switch between models, test them, compare them side by side. It's $20 a month and you don't have to have subscriptions to a dozen different services and all of your data's in one place. So if you want to check it out, there's a link in the description to AIbox.AI.

All right, let's talk about this deal

that's going down with Higgsfield right now.

I think what's interesting is this has actually grown a lot bigger than their original fundraising announcement that they did. So they actually did an extension of their $50 million series A. They closed that back in September. They've now done an extension, and they sold an additional $80 million in

equity, which means that their total Series A is $130 million. This is kind of an interesting thing.

You know, a lot of people could be like, oh, wow, look, they were able to get all this extra

money. But also, because we're seeing like rounds happen so close back to back for a lot of the big

AI labs, doing a round in big AI labs doing a round in

September and then doing a round in January or I guess like afterwards it could have been a

series B but they decided to tag it on as a series A what's the difference this is probably

the same valuation which means that perhaps their valuation didn't grow now was the you know was

the demand to invest in this dampened?

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