On Tuesday, Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google introduced its Veo video generator to select Cloud customers.
What Happened: The AI model, capable of creating short video clips from images and prompts, is now available in private preview on Vertex AI, Google's AI development platform.
Veo's introduction will allow Quora to integrate the tool into its Poe chatbot platform, while Mondelez International (NASDAQ:MDLZ), maker of Oreo, plans to use it for marketing content creation with agency partners.
Initially unveiled in April, Veo can produce 1080p clips of up to six seconds, capturing various visual styles and making edits to existing footage.
In a blog post, Warren Barkley, senior director of product management at Google Cloud, stated that the model has been upgraded for enterprise readiness. It now supports high-definition video creation in different aspect ratios.
Veo's training involved high-quality, curated datasets, with Google maintaining that its models are primarily trained on publicly available sources.
The tech giant has implemented prompt-level filters and an indemnity policy to address potential copyright issues, ensuring a defense for eligible Veo users against infringement allegations.
Moreover, Google also announced that its flagship image generator, Imagen 3, is now accessible to all Vertex AI customers without the need for a waitlist.
However, its new customization and image editing features are currently available only through a separate waitlist.
Why It Matters: The launch of Google's Veo video generator comes amid a competitive landscape where major tech companies are racing to innovate in AI-driven video technology.
In February, OpenAI, the maker of ChatGPT, launched its video generator, the Sora AI model. Since its high-profile debut, Sora has faced significant challenges, with errors in video generation quickly highlighting its weaknesses.
Last week, reports surfaced that a group of beta testers leaked the unreleased Sora model, protesting OpenAI's handling of artists.
In September 2024, Amazon.com, Inc. (NASDAQ:AMZN) introduced a beta version of its AI-powered video generation tool, targeting advertisers. This move positioned Amazon to compete with Adobe Inc. (NASDAQ:ADBE), which is also advancing its AI capabilities with the Firefly Video Model.
Later in October, Meta Platforms Inc. (NASDAQ:META) also launched Movie Gen, a tool for creating high-quality videos, images, and audio from text prompts.
Price Action: As of this update, Alphabet's Class A shares increased by 0.14% in after-hours trading, reaching $171.58, while Class C shares rose by 0.098% to $173.19. During Tuesday's regular session, Class A shares fell by 0.087% to $171.34, while Class C shares gained 0.023%, closing at $173.02, according to data from Benzinga Pro.
