V7 is available in two variants - Relax and the more expensive Turbo. Additionally, Draft Mode is presented, which is twice as cheap and 10 times faster compared to the standard plan. Draft works are of low quality, but they can be improved immediately. The company recommends "thinking out loud" by running through different ideas to generate images.
Before you start working with V7, you need to provide the neural network with about 200 images to create a personalized profile. It customizes the model according to the user's individual preferences.
A number of standard Midjourney features like image scaling and retexturing are not yet available for V7. Those will come at a later date.
Midjourney presented its last development more than a year ago - at the time, the company announced a new AI-based imaging model that gained the ability to generate meaningful text.
The new tool comes a week after OpenAI added a GPT-4o model-based image generator to ChatGPT and Sora. The service gained widespread popularity and led to a shortage of performance capacity.
OpenAI raised $40 billion at a $300 billion valuation
AI startup OpenAI closed a new round of funding, raising $40 billion at a $300 billion valuation, making it one of the largest privately held firms in the world.
It shares the top three in terms of value along with Elon Musk's SpaceX and China's ByteDance.
"This will allow us to further push the boundaries of artificial intelligence research, scale our computing infrastructure, and provide increasingly powerful tools for the 500 million people who use ChatGPT every week," Sam Altman's company noted.
In March, the number of weekly chatbot users exceeded 400 million - it took the app less than six months to double that number.
Altman pointed out that ChatGPT's launch 26 months ago was one of the most viral, with the product attracting 1 million users in just five days. On March 31, the same number of people added in an hour.
OpenAI said it has partnered with SoftBank Group, but the amount of the Japanese group's investment is not disclosed. According to CNBC, it invested $30 billion. A syndicate of investors, including Microsoft, joined the round.
"Their support will enable us to continue building AI systems that accelerate scientific discovery, make education more personalized, unlock human creativity, and pave the way for AGI for the benefit of all humanity," the company added.
According to CNBC, about $18 billion will be used to fund the StarGate project.
The initial investment will be $10 billion, with the remaining $30 billion to be allocated by the end of the year. The publication added that the round comes with a caveat - the total amount of investment can be reduced to $20 billion provided that OpenAI does not become commercial by December 31, 2025;
