Alphabet Invests $75M in A24 for DeepMind AI Film Tools

On June 22 2026 Alphabet announced a $75 million equity investment in independent studio A24, marking its first direct stake in a film production company. Multiple reports throughout the day confirmed the deal pairs DeepMind with A24 to co-develop AI tools for movie production and distribution while filmmakers retain full creative control. A24’s revenue has more than doubled in the past two years, and the new funding is comparable in size to Thrive Capital’s 2024 round that valued the studio at $3.5 billion. Market reaction has been modestly positive, reflecting longer-term optimism about Alphabet’s applied-AI strategy without near-term earnings impact, though shares fell nearly 6% on separate talent news.