Backed by Alibaba and Tencent, Chinese startup MiniMax has launched a new text-to-video model called Hailuo AI that is quickly gaining traction on social media based on its impressive capabilities, with comments ranging from “fantastical” to “hyper-realistic.” The free, web-based tool has already triggered videos that have gone viral, despite the current limitation of only 6-second clips. However, an image-to-video model is reportedly coming soon, in addition to a version 2 that promises longer video duration and improved motion. Unlike the Jimeng AI text-to-video model that was issued by ByteDance last month, the MiniMax technology is available outside of China. Continue reading Hailuo AI: China’s MiniMax Releases Free Text-to-Video App

During Facebook’s F8 developer conference this week, an Oculus VR spokesperson said the company would likely release its Oculus Rift virtual reality headsets commercially next year. While there is no official word yet on a price tag or release date for the consumer version of Oculus Rift, the headset will require an ecosystem of games and entertainment. The Oculus Rift Development Kit 2 is presently on sale for $350, and is scheduled to begin shipping in July. Continue reading F8: Consumers Can Purchase Oculus Rift VR Headset in 2015

Last week the Tribune Company released a new iOS and Android app called Newsbeat, which plans to change how we consume our daily news by offering a more personalized podcast-like experience. Newsbeat has access to more than 7,000 sources from major newspapers to smaller blogs. Users can specify what types of stories and publications they are interested in, and the app will create a customized newscast by using Pandora-like artificial intelligence technology. Continue reading Newsbeat Creates Custom Radio Show Based on Your Interests

Social gaming company Zynga has acquired game and software developer NaturalMotion for $527 million — giving the company access to simulation technology that makes characters look and move naturally. Zynga hopes to improve its mobile games like “FarmVille,” which currently feature more cartoon-like 2D characters. The same technology behind NaturalMotion was used in the “Lord of the Rings” movies, and Rockstar uses it for the “Grand Theft Auto” games. Continue reading Zynga Acquires NaturalMotion and Its Simulation Technology

Amazon Studios, the film and TV production arm of Amazon.com, announced this week that it plans to shoot all of its original series next year in 4K Ultra HD. Amazon plans to debut five new comedy and drama pilots in 2014, from producers and performers such as Chris Carter, Roman Coppola, Jason Schwartzman, Michael Strahan and others. Viewers will help determine which pilots should be produced as exclusive series on Prime Instant Video and LOVEFiLM in the UK. Continue reading Amazon Studios to Shoot Original Programming in 4K Ultra HD