xAI, the AI development company owned by Elon Musk, has acquired Hotshot, a startup specializing in AI-powered video creation tools similar to Sora from OpenAI, without disclosing the deal’s value.
Confirmation of the acquisition comes from Hotshot’s side, with Aakash Sastry announcing that after 2 years of development, the company has released three AI video creation models: Hotshot-XL, Hotshot Act One, and Hotshot. It’s now time for them to scale operations on xAI’s largest cluster in the world, Colossus.
Currently, xAI does not have any video creation models in service, but Elon Musk previously mentioned the upcoming Grok Video, which may be a result of the Hotshot acquisition.
Hotshot has stated that current platform users will no longer be able to create new videos, but existing videos can be downloaded until March 30th.
Source: TechCrunch
TLDR: xAI acquires Hotshot, a startup specializing in AI video creation tools, with plans to scale operations on their largest cluster and potentially integrate Hotshot’s technology into their services.
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