Spark Capital, Jared Leto Back AI Video Startup Pika

Pika, an artificial intelligence startup that generates video, has raised $80 million in funding — a large amount for a company that’s just over a year old, and a signal that investors remain confident in the future of so-called generative AI.

The funding round was led by Spark Capital, and doubles the company’s valuation to $470 million, Pika said. Other investors in the Series B financing include Greycroft, Lightspeed Venture Partners (which led the company’s Series A round last year), and actor, singer and startup investor Jared Leto. In total, the Palo Alto, California-based company has now raised $135 million. Business Insider earlier reported some ...