New Delhi, Aug. 18 -- Goldman Sachs Alternatives does not put its name on novelties. When the firm joined DST Global in leading Higgsfield's $400 million Series B, announced Sunday, the signal was not that AI-generated video is interesting. It was that AI-generated video belongs in the same sentence as enterprise infrastructure. That is a different claim than anything the AI video industry has made for itself, and the $5.4 billion valuation attached to the round is the market's answer to whether it believes it.

$700 million in annualized revenue, 30 million users across 200 countries, and 390 Fortune 500 companies now using its tools for marketing and creative production. Alex Mashrabov, who left Snap to found Higgsfield in 2023, said th...