Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More. Lightricks, the company behind popular creative apps like Facetune and VideoLeap, announced today the release of its most powerful AI video generation model to date. The LTX Video 13-billion-parameter model (LTXV-13B) generates high-quality AI video up to 30 times faster than comparable models while running on consumer-grade hardware rather than expensive enterprise GPUs.The model introduces “multiscale rendering,” a novel technical approach that dramatically increases efficiency by generating video in progressive layers of detail. This enables creators to produce professional-quality AI videos on standard desktop computers and high-end laptops instead of requiring specialized enterprise equipment.“The introduction of our 13B parameter LTX Video model marks a pivotal moment in AI video generation with the ability to generate fast, high-quality videos on consumer GPUs,” said Zeev Farbman, co-founder and CEO of Lightricks, in an exclusive interview with VentureBeat. “Our users can now create content with more consistency, better quality, and tighter control.”

NEW YORK, NEW YORK - MAY 09: (L-R) Jane Rosenthal and Cristobal Valenzuela speak onstage during the. More 2024 AI Film Festival New York Panel at Metrograph on May 09, 2024 in New York City. (Photo by Dia Dipasupil/Getty Images) Getty ImagesThe recent release of Runway AI’s Gen-4 has ignited both excitement and existential questions about the future of cinema and media in general. With the company now valued at 3 billion following a $308 million funding round led by the private equity firm General Atlantic and backed by industry heavyweights like Nvidia and SoftBank, AI’s march into Hollywood appears unstoppable.The film industry, alongside all creative sectors, from digital marketing to social media, stands at a technological crossroad. As artificial intelligence begins to reshape every aspect of visual storytelling and change the landscape of entertainment and digital commerce, we must assess its potentials and pitfalls.The AI Gold Rush in FilmmakingMajor production companies are rapidly adopting AI video tools. Fabula, the acclaimed studio behind Oscar-winning A Fantastic Woman and biopic Spencer, just announced a partnership with Runway AI to integrate AI across its production pipeline