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Forbes
07-06-2025
- Entertainment
- Forbes
An AI Film Festival And The Multiverse Engine
In the glassy confines of Alice Tully Hall on Thursday, the third annual Runway AI Film Festival celebrated an entirely new art form. The winning film, Total Pixel Space, was not made in the traditional sense. It was conjured by Jacob Adler, a composer and educator from Arizona State University, stitched together from image generators, synthetic voices, and video animation tools — most notably Runway's Gen-3, the company's text-to-video model (Runway Gen-4 was released in March). Video generation technology emerged in public in 2022 with Meta's crude video of a flying Corgi wearing a red cape and sunglasses. Since then, it has fundamentally transformed filmmaking, dramatically lowering barriers to entry and enabling new forms of creative expression. Independent creators and established filmmakers alike now have access to powerful AI tools such as Runway that can generate realistic video scenes, animate storyboards, and even produce entire short films from simple text prompts or reference images. As a result, production costs and timelines are shrinking, making it possible for filmmakers with limited resources to achieve professional-quality results and bring ambitious visions to life. The democratization of content creation is expanding far beyond traditional studio constraints, empowering anyone with patience and a rich imagination. Adler's inspiration came from Jorge Luis Borges' celebrated short story The Library of Babel, which imagines a universe where every conceivable book exists in an endless repository. Adler found a parallel in the capabilities of modern generative machine learning models, which can produce an unfathomable variety of images from noise (random variations in pixel values much like the 'snow' on an old television set) and text prompts. 'How many images can possibly exist,' the dreamy narrator begins as fantastical AI-generated video plays on the screen: a floating, exploding building; a human-sized housecat curled on a woman's lap. 'What lies in the space between order and chaos?' Adler's brilliant script is a fascinating thought experiment that attempts to calculate the total number of possible images, unfurling the endless possibilities of the AI-aided human imagination. 'Pixels are the building blocks of digital images, tiny tiles forming a mosaic,' continues the voice, which was generated using ElevenLabs. 'Each pixel is defined by numbers representing color and position. Therefore, any digital image can be represented as a sequence of numbers,' the narration continues, the voice itself a sequence of numbers that describe air pressure changes over time. 'Therefore, every photograph that could ever be taken exists as coordinates. Every frame of every possible film exists as coordinates.' Winners at the 3rd Annual International AIFF 2025 Runway was founded in 2018 by Cristóbal Valenzuela, Alejandro Matamala, and Anastasis Germanidis, after they met at New York University Tisch School of the Arts. Valenzuela, who serves as CEO, says he fell in love with neural networks in 2015, and couldn't stop thinking about how they might be used by people who create. Today, it's a multi-million-user platform, used by filmmakers, musicians, advertisers, and artists, and has been joined by other platforms, including OpenAI's Sora, and Google's Veo 3. What separates Runway from many of its competitors is that it builds from scratch. Its research team — which comprises most of the company — develops its own models, which can now generate up to about 20 seconds of video. The result, as seen in the works submitted to the AI Film Festival, is what Valenzuela calls 'a new kind of media.' The word film may soon no longer apply. Nor, perhaps, will filmmaker. 'The Tisches of tomorrow will teach something that doesn't yet have a name,' he said during opening remarks at the festival. Indeed, Adler is not a filmmaker by training, but a classically trained composer, a pipe organist, and a theorist of microtonality. 'The process of composing music and editing film,' he told me, 'are both about orchestrating change through time.' He used the image generation platform Midjourney to generate thousands of images, then used Runway to animate them. He used ElevenLabs to synthesize the narrator's voice. The script he wrote himself, drawing from the ideas of Borges, combinatorics, and the sheer mind-bending number of possible images that can exist at a given resolution. He edited it all together in DaVinci Resolve. The result? A ten-minute film that feels as philosophical as it is visual. It's tempting to frame all this as the next step in a long evolution; from the Lumière brothers to CGI, from Technicolor to TikTok. But what we're witnessing isn't a continuation. It's a rupture. 'Artists used to be gatekept by cameras, studios, budgets,' Valenzuela said. 'Now, a kid with a thought can press a button and generate a dream.' At the Runway Film Festival, the lights dimmed, and the films came in waves of animated hallucinations, synthetic voices, and impossible perspectives. Some were rough. Some were polished. All were unlike anything seen before. This isn't about replacing filmmakers. It's about unleashing them. 'When photography first came around — actually, when daguerreotypes were first invented — people just didn't have the word to describe it,' Valenzuela said during his opening remarks at the festival. 'They used this idea of a mirror with a memory because they'd never seen anything like that. … I think that's pretty close to where we are right now.' Valenzuela was invoking Oliver Wendell Holmes Sr.'s phrase to convey how photography could capture and preserve images of reality, allowing those images to be revisited and remembered long after the moment had passed. Just as photography once astonished and unsettled, generative media now invites a similar rethinking of what creativity means. When you see it — when you watch Jacob Adler's film unfold — it's hard not to feel that the mirror is starting to show us something deeper. AI video generation is a kind of multiverse engine, enabling creators to explore and visualize an endless spectrum of alternate realities, all within the digital realm. 'Evolution itself becomes not a process of creation, but of discovery,' his film concludes. 'Each possible path of life's development … is but one thread in a colossal tapestry of possibility.'
Business Standard
30-05-2025
- Automotive
- Business Standard
Ola Electric drops after Q4 net loss widens to Rs 870 cr
Ola Electric Mobility declined 5.69% to Rs 50.21 after the company's consolidated net loss widened to Rs 870 crore in Q4 FY25, compared with net loss of Rs 416 crore in Q4 FY24. Revenue from operations tumbled 61.8% YoY to Rs 611 crore in Q4 FY25. The company reported pre-tax loss of Rs 870 crore in Q4 FY25 as compared with a pre-tax loss of Rs 416 crore in Q4 FY24. The company reported a negative EBITDA of Rs 658 crore in Q4 FY25, compared to a negative EBITDA of Rs 269 crore in Q4 FY24. The EBITDA margin stood at negative 101.4% in Q4 FY25, against negative 16.4% in the same quarter last year. Deliveries dropped 55.48% to 51,375 units in Q4 FY25 compared with 115,386 units in Q4 FY24. With a sharp focus on cost reduction and profitability through Project Lakshya, the company had earlier set a target operating cost structure of Rs 110 crore for the auto segment. As of April 2025, the cost stands at Rs 121 crore and is on track to reach the target of Rs 110 crore by June 2025. In April and May 2025, the company has shown early indicators of structural improvements translating into business momentum. These include higher gross margins (excluding PLI) and reduced operating expenses, higher monetization through add-ons, Gen 3 sales exceeding Gen 2 by over 2x, and strong demand for Roadster Motorcycles. The company expects to continue this strong performance through the rest of the year and achieve auto segment EBITDA profitability in FY26. The rollout of Gen 3 in Q4 FY25 was a key driver of the companys gross margin improvement. Q1 FY26 gross margins showed an improvement of 10 pp over Q4 FY25, which will further be helped by the scale-up of the Gen 3 platform. Notably, this performance does not include PLI on Gen3, which is expected to accrue in Q2FY26 vs 100% of the product portfolio accruing PLI in Q3FY25. The company expects its gross margins to improve to approximately 35% in Q2 FY26 with PLI. Ola Electric is also ramping up production at its Ola Gigafactory with improving yields of its Bharat Cell, which is undergoing extensive testing across performance, lifecycle, and safety parameters, with phased commercialization in a couple of months. This phased rollout will help optimize supply chain dynamics, maintain quality consistency across early production batches, and gather real-world performance feedback ahead of mass commercialization. The company expects adjusted revenue between Rs 800 crore and Rs 850 crore, deliveries of 65,000 units, and an auto EBITDA margin of negative 10% in Q1 FY26. On a full-year basis, the companys consolidated net loss widened to Rs 2,276 crore in FY25 compared with Rs 1,584 crore in FY24. Revenue from operations fell 9.9% to Rs 4,514 crore in FY25, compared with Rs 5,010 crore in FY24. Through Project Vistaar and Project Lakshya, Ola has reduced its auto segment EBITDA break-even point to under 25,000 units per month. With increasing S1 market share, new motorcycle launches, and improving cost metrics, the company aims to achieve auto segment EBITDA profitability in FY26. Ola Electric Mobility is a leading electric vehicle (EV) manufacturer in India, specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells.
Economic Times
30-05-2025
- Automotive
- Economic Times
Ola Electric reports revenue decline and widening losses in March quarter
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Ola Electric's financial performance worsened in the March quarter as the electric two-wheeler maker reported a sharp decline in revenue and loss company posted a net loss of ₹870 crore compared with ₹416 crore in the same period last year, amid declining market share, a slump in the stock price, and increased regulatory revenue fell 61.8% YoY to ₹611 crore from ₹1,598 crore, driven by a drop in electric scooter sales - the Bengaluru-based company's primary revenue source."These (financial) numbers were impacted by a one-time issue with our registration process which we had highlighted during the course of the quarter itself. That subsequently got resolved in Q1 which is this quarter," said founder Bhavish Aggarwal on an earnings call."If you look at our Q1 outlook, we are sharing a revenue forecast of about ₹800-850 crore, about 65,000 deliveries and a gross margin of about 28-30% which is much higher than Q4," said Aggarwal Electric reduced total expenses by 31.6% to ₹1,306 crore, largely due to a nearly ₹1,000 crore cut in material deliveries fell to 51,375 units in the quarter, down from 115,386 in the year-ago period. However, gross margin at its automotive business inched up to 19.2% from 18% last said the company had planned to integrate its own battery cells into its vehicles in the current quarter. While the vehicles are ready with in-house cells, the rollout was deferred to allow time for stabilising the newly launched Roadster bikes and the Gen 3 scooter platform, said Aggarwal. The company also aims to improve cell production yields from 60% to 80% before the full-scale launch. "We are delaying it a bit just to make sure the operating profile of the commercial business is first prioritised. Then we add on the cell integration to that," he added. A total capital expenditure of ₹1,600 crore has been earmarked for expanding the company's cell manufacturing capacity from the current 1.5 GWh to 5 GWh. "We have not yet kicked off this capex cycle on the cell yet because we are just waiting for stabilising yields in the 1.5 gigawatt hour," Aggarwal said. Ola Electric slipped to third position in India's electric two-wheeler market in May, overtaken by legacy players TVS Motor and Bajaj Auto . The company held a 20% market share in May, down from 22.1% in April and significantly lower than the 50% share it commanded in May 2024. Aggarwal described the March quarter as a period of "important learning and introspection" as Ola Electric navigates its transition to a publicly listed company. "As we have transitioned from a private to a public company, we have to also manage operating risk in a slightly more mature way. So, that lesson has been well learned by everybody at Ola Electric," he said. "Going forward, hence you will see us be much more deeper as well as thoughtful about capital allocation and operating risk."Earlier this month, Ola Electric's board approved raising up to ₹1,700 crore through non-convertible debentures and other debt instruments - the company's first fundraising move since its August 2024 IPO. The funds are expected to support operations and strengthen the balance sheet amid regulatory challenges and stock market company has faced increasing scrutiny over discrepancies in reported sales figures, vehicle quality issues, and missing trade certificates at several retail outlets. In February, Vahan data showed only 8,652 registrations for Ola Electric, while the company claimed sales of 25,000 units in its filings. The discrepancy was attributed to a temporary backlog caused by ongoing contract renegotiations with registration service providers Rosmerta and Shimnit mismatch prompted inquiries by the Ministry of Heavy Industries and the Ministry of Road Transport and Highways. Despite these headwinds, Ola Electric is expanding its product line. On May 23, it began deliveries of its Roadster X electric motorcycle, which Aggarwal said is generating strong interest. The company launched its third-generation electric scooters on January 31, promising improved performance and efficiency.
Time of India
30-05-2025
- Automotive
- Time of India
Ola Electric reports revenue decline and widening losses in March quarter
Mumbai: Ola Electric's financial performance worsened in the March quarter as the electric two-wheeler maker reported a sharp decline in revenue and loss widened. The company posted a net loss of ₹870 crore compared with ₹416 crore in the same period last year, amid declining market share, a slump in the stock price, and increased regulatory scrutiny. Operating revenue fell 61.8% YoY to ₹611 crore from ₹1,598 crore, driven by a drop in electric scooter sales - the Bengaluru-based company's primary revenue source. "These (financial) numbers were impacted by a one-time issue with our registration process which we had highlighted during the course of the quarter itself. That subsequently got resolved in Q1 which is this quarter," said founder Bhavish Aggarwal on an earnings call. Agencies Better Q1 Outlook "If you look at our Q1 outlook, we are sharing a revenue forecast of about ₹800-850 crore, about 65,000 deliveries and a gross margin of about 28-30% which is much higher than Q4," said Aggarwal Thursday. Ola Electric reduced total expenses by 31.6% to ₹1,306 crore, largely due to a nearly ₹1,000 crore cut in material costs. Vehicle deliveries fell to 51,375 units in the quarter, down from 115,386 in the year-ago period. However, gross margin at its automotive business inched up to 19.2% from 18% last year. Aggarwal said the company had planned to integrate its own battery cells into its vehicles in the current quarter. While the vehicles are ready with in-house cells, the rollout was deferred to allow time for stabilising the newly launched Roadster bikes and the Gen 3 scooter platform, said Aggarwal. The company also aims to improve cell production yields from 60% to 80% before the full-scale launch. "We are delaying it a bit just to make sure the operating profile of the commercial business is first prioritised. Then we add on the cell integration to that," he added. A total capital expenditure of ₹1,600 crore has been earmarked for expanding the company's cell manufacturing capacity from the current 1.5 GWh to 5 GWh. "We have not yet kicked off this capex cycle on the cell yet because we are just waiting for stabilising yields in the 1.5 gigawatt hour," Aggarwal said. Ola Electric slipped to third position in India's electric two-wheeler market in May, overtaken by legacy players TVS Motor and Bajaj Auto . The company held a 20% market share in May, down from 22.1% in April and significantly lower than the 50% share it commanded in May 2024. Aggarwal described the March quarter as a period of "important learning and introspection" as Ola Electric navigates its transition to a publicly listed company. "As we have transitioned from a private to a public company, we have to also manage operating risk in a slightly more mature way. So, that lesson has been well learned by everybody at Ola Electric," he said. "Going forward, hence you will see us be much more deeper as well as thoughtful about capital allocation and operating risk." Earlier this month, Ola Electric's board approved raising up to ₹1,700 crore through non-convertible debentures and other debt instruments - the company's first fundraising move since its August 2024 IPO. The funds are expected to support operations and strengthen the balance sheet amid regulatory challenges and stock market volatility. The company has faced increasing scrutiny over discrepancies in reported sales figures, vehicle quality issues, and missing trade certificates at several retail outlets. In February, Vahan data showed only 8,652 registrations for Ola Electric, while the company claimed sales of 25,000 units in its filings. The discrepancy was attributed to a temporary backlog caused by ongoing contract renegotiations with registration service providers Rosmerta and Shimnit India. The mismatch prompted inquiries by the Ministry of Heavy Industries and the Ministry of Road Transport and Highways. Despite these headwinds, Ola Electric is expanding its product line. On May 23, it began deliveries of its Roadster X electric motorcycle, which Aggarwal said is generating strong interest. The company launched its third-generation electric scooters on January 31, promising improved performance and efficiency.
Mint
29-05-2025
- Automotive
- Mint
Ola Electric Q4 Results: Net loss more than doubles to ₹870 crore
Ola Electric Q4 Results: Two-wheeler electric vehicle (EV) manufacturer Ola Electric on Thursday, May 29, informed that its consolidated net loss for the January-March (Q4) quarter of the financial year 2024-25 more than doubled to ₹ 870 crore amid a sharp decline in topline. The net loss in the corresponding quarter last year stood at ₹ 416 crore. The revenue from operations tumbled 62% year-on-year (YoY) to ₹ 611 crore during the quarter under review. In the January-March 2024 quarter, the company's revenue stood at ₹ 1,508 crore. The consolidated segment EBITDA loss for the March 2025 quarter was at ₹ 658 crore, a multifold rise over the EBITDA loss of ₹ 269 crore posted in the year-ago period. Meanwhile, the EBITDA margin was down 101.4%. The company expects its gross margins to improve to approximately 35% in Q2 FY26. It also targets the Auto segment EBITDA profitability through FY26. In Q4 FY25, Ola delivered 51,375 units, a decline of 55% over 1,15,386 units in Q4 FY24. Ola has struggled with slowing sales, regulatory pressure and competition from established two-wheeler makers ever since its stock market debut in August 2024. The company is yet to report a profit. For the full financial year, however, Ola claimed, quoting VAHAN data, that it was the market leader, with 3,59,221 units delivered in FY25, as against 3,29,549 units delivered in FY24, on the back of its improved Gen 3 S1 scooter portfolio, capturing a market share of 30%. Commenting on its roadmap for FY26, Ola said it will focus on scaling revenue and operating leverage as it eyes profitability. 'With a robust product roadmap, vertical integration and R&D focus, and strong distribution and service infrastructure, Ola Electric is well-positioned to drive the next phase of EV adoption in India across both scooters and motorcycles,' the company said.
