India, June 22 -- Google is investing about $75 million in movie studio A24 as part of a new artificial intelligence (AI) partnership, according to an announcement made by Google and A24 on Monday. The investment is linked directly to the AI partnership and is not a fundraising round or capital raise for A24.

Under the deal, Google's AI division DeepMind and A24 will work together to develop new AI-powered tools, workflows, and techniques for making and distributing movies, as per the report by TheWrap. This is the first time Google has taken an ownership stake in a movie studio, making the deal significant for both the technology and entertainment industries. Google already has a major presence in media through its ownership of YouTube,...